“[We will] strengthen political supervision as top priority … focus on implementing the major decisions and arrangements of the party Central Committee on financial work,” Wang was quoted by the CCDI’s website as saying.
“[We will] promptly discover any deviations [from the party’s decisions and] strive to implement rectification,” he added.
A Shanxi native, Wang Weidong graduated with an accounting degree from Northeast University of Finance and Economics in 1991.
He spent the first two and half decades of his political career in the National Government Offices Administration under the State Council – China’s cabinet – which is responsible for the administration of central government office operations, including expenditure, official vehicles, state-owned assets and the real estate of government offices.
After a three-year stint as deputy secretary general of the CCDI from 2016, he served as Tibet’s regional disciplinary head from May 2019 until March this year before returning to CCDI in the financial sector watchdog role.
The CCDI article, for which several leading disciplinary officials including Wang were interviewed, is a component of party apparatus propaganda to show loyalty and quick alignment with the key directions of the party’s latest third plenum, which concluded on Thursday.
While unveiling sweeping plans to bolster the finances of China’s indebted local governments, the meeting of the Central Committee led by President Xi Jinping vowed to “bring all financial activities under supervision” by creating a new financial law.
It also pledged more efforts to deepen the crackdown of corruption in areas with “concentrated power, intensive capital and rich resources”.
It is the first time Beijing has officially confirmed the establishment of a dedicated disciplinary body to crack down on corruption in China’s vast financial sector, having been listed as the first priority on the CCDI’s crackdown list two years in a row.
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China posts 4.7% second-quarter growth, lower than expected
China posts 4.7% second-quarter growth, lower than expected
After the detention of more than 100 senior financial executives last year, the CCDI has continued its sweeping crackdown in response to Xi’s call to clean up China’s financial sector to make China a “financial superpower”.
A total of 32 senior Chinese financial regulators, bankers and financial executives were detained in the first six months this year, according to a tally by the South China Morning Post.