After being investigated for six months, former Director Yuan Fei of the Dalian Banking Regulatory Bureau has been expelled from the party and transferred to judicial authorities. Prior to this, the bureau’s first director, Li Lin, had fallen from grace.
On February 22nd, the official website of the Central Commission for Discipline Inspection and the National Supervisory Commission of the Chinese Communist Party announced that Yuan Fei, the former party secretary and director of the Dalian Banking Regulatory Bureau, has been expelled from the party, had his benefits revoked, and has been referred to judicial authorities.
According to the announcement, Yuan Fei disregarded the bottom line of the law, illegally accepted gifts and cash bribes, sought benefits for others in terms of employee recruitment, and accepted goods; used his authority for his family’s business activities, buying real estate at low prices; used his position of power or the convenience of his job to benefit others and illegally accepted large sums of money.
In August 2024, Yuan Fei came under investigation.
Public records show that Yuan Fei was born in November 1956 in Kuandian, Liaoning Province, and is a senior economist. In March 2006, he was appointed as the director and party secretary of Dalian Banking Regulatory Bureau of the China Banking Regulatory Commission. Prior to this, he served as the deputy director of the Dalian Banking Regulatory Bureau.
It is worth noting that in December 2021, Li Lin, the former director of the Liaoning Banking Regulatory Bureau, fell from grace. Li Lin was the first director of the Dalian Banking Regulatory Bureau and was Yuan Fei’s predecessor. In November 2022, Li Lin was expelled from the party, had his benefits revoked, and was referred to judicial authorities.