China Probes NFRA Vice Minister in Expanding Finance Crackdown

China’s top anti-graft watchdog is investigating a senior official at its main financial regulator, extending a yearslong purge in the $69 trillion financial industry.

Zhou Liang, a vice minister of the National Financial Regulatory Administration, is being probed for “serious violations of discipline and law,” the Central Commission for Discipline Inspection said in a one sentence statement Tuesday. The phrase is a common euphemism for alleged corruption.