{"text":[[{"start":10.5,"text":"Chinese authorities have detained a senior banker whose father, the country’s former top securities regulator, is also under investigation, as President Xi Jinping’s anti-corruption campaign increasingly ensnares family members of fallen officials."}],[{"start":28.55,"text":"Yi Chenyang, a rising star at state-backed China International Capital Corporation, one of the country’s leading investment banks, was taken away by authorities in recent weeks as part of the investigation into his father, according to two people familiar with the matter."}],[{"start":48.09,"text":"The communist party’s anti-graft watchdog announced over the weekend that Yi’s father, ex-China Securities Regulatory Commission chair and party secretary Yi Huiman, was suspected of “serious violations of discipline and law”, a phrase often used in corruption probes, and was being investigated."}],[{"start":67.97,"text":"The 60-year-old was ousted from his CSRC post last year amid a steep drawdown in the domestic stock market. He previously ran the state-owned Industrial and Commercial Bank of China, where many former executives have been caught up in corruption probes."}],[{"start":86.62,"text":"CICC and CSRC did not respond to requests for comment."}],[{"start":92.92,"text":"People familiar with the matter said the younger Yi, who is based in Hong Kong, had worked on the planned $37bn listing for Jack Ma’s Ant Group in 2020. The listing was called off at the last minute by Chinese authorities following Ma’s public criticism of regulators."}],[{"start":113.32,"text":"Another person familiar with Yi, who is also known as Charles, said he had worked on many initial public offerings for Shanghai’s tech-focused Star board following its launch in 2019."}],[{"start":126.55999999999999,"text":"Public records in Hong Kong show Yi joined CICC in 2015 after a short stint at UBS and was promoted to a more senior role at the bank in 2023."}],[{"start":139.75,"text":"The people briefed on the matter said the younger Yi could emerge unscathed from the probe into his father and return to the investment bank."}],[{"start":148.58,"text":"Xi’s wide-ranging anti-corruption crusade has picked up pace in his third term, with four cabinet members and more than a dozen senior military officers removed."}],[{"start":160.13000000000002,"text":"The Central Commission for Discipline Inspection, the Communist party’s anti-graft watchdog, disciplined 889,000 officials last year, its records show, up 46 per cent from the year before and the most in at least a decade."}],[{"start":176.98000000000002,"text":"In recent years, the CCDI has also increasingly broadened its investigations to include family members of officials who have come under suspicion. The children of leading officials, known colloquially as “princelings”, have long benefited from their family relationships. "}],[{"start":196.08,"text":"Earlier this year, Liu Tianran, a financier and son of Xi’s former economic tsar Liu He, came under a corruption-related investigation. "}],[{"start":206.58,"text":"State media has also recently highlighted family members of senior officials who have been accused of helping take bribes or other corrupt acts. "}],[{"start":217.53,"text":"A series on state broadcaster CCTV this year called Fighting Corruption for the People referred to the wife and brother of Guizhou party secretary Sun Zhigang as his “money collectors” and said his brother was punished."}],[{"start":234.72,"text":"CCTV also included an apparent confession from the wife of former justice minister Tang Yijun, who was removed in a corruption probe last year."}],[{"start":246.5,"text":"Tang’s wife Xuan Minjie said businesspeople had approached her for investments and partnerships to court her husband. “How can I repay them? Only with the possibility of help from Tang Yijun’s power,” she said."}],[{"start":261.13,"text":"Additional reporting by Thomas Hale in Shanghai"}],[{"start":273.86,"text":""}]],"url":"https://audio.ftmailbox.cn/album/a_1757409903_8093.mp3"}