The People's Bank of China said that the arrangement would help meet reasonable global demand for the yuan and contribute to regional financial security, the report added. Photo: Reuters.
Sun Guofeng, a top Chinese central banker, is under the lens in China for allegedly leaking official economic statistics to individual bond traders in exchange for personal gains, The Wall Street Journal reported, citing people aware of the investigation by the Central Commission for Discipline Inspection.
The probe into Sun, who has been an employee at the central bank since the 1990s, is said to be the outcome of a sweeping round of checks at around 25 financial bodies, investment funds and lenders that was launched last year to maintain the Communist Party’s authority over these institutions, the report said.
Read the full report: The Wall Street Journal.
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