Yi Gang China — Beijing has removed former central bank governor Yi Gang and nine other senior officials from leadership positions within the country’s top advisory body. The move, announced during a Standing Committee session in Beijing, marks a rare mid-term reshuffle that reflects China’s intensified political oversight and anti-corruption efforts.
Yi Gang China Removal Reflects Stronger Political Discipline
According to Xinhua News Agency, Yi Gang, who previously headed the People’s Bank of China (PBOC), was among ten members dismissed from leadership roles in the Chinese People’s Political Consultative Conference (CPPCC). The decision stands out because such personnel adjustments typically occur only at the end of the body’s five-year term.
While Yi and most others retained their CPPCC membership, analysts say the shake-up underscores Beijing’s focus on tightening internal discipline and reinforcing loyalty across its political institutions.
Beijing’s Anti-Corruption Campaign Reaches Advisory Circles
The restructuring is part of a broader anti-corruption campaign targeting both financial regulators and policymakers. Among those removed were former senior figures from ministries overseeing natural resources, agriculture, judicial affairs, and Taiwan relations, as well as several academics.
One notable exception was Fu Xingguo, who not only lost his committee position but was also stripped of CPPCC membership — a signal of possible disciplinary investigation. The removal of Yi Huiman, a former top financial regulator currently under corruption probe, was also formalized during the meeting.
Yi Gang’s Legacy and International Reputation
Before his removal, Yi Gang was widely regarded as a steady technocrat with a pro-market orientation. He served as governor of the People’s Bank of China from 2018 to 2023, succeeding Zhou Xiaochuan, and was credited with maintaining monetary stability during a period of global uncertainty.
An academic by training, Yi holds a Ph.D. in economics from the University of Illinois and spent several years teaching in the United States before returning to China. His reformist outlook and pragmatic leadership style earned him respect in both domestic and international financial circles.
However, after stepping down from the PBOC in 2023 upon reaching retirement age, Yi’s influence in financial policymaking had already waned. The latest decision to remove him from CPPCC leadership further signals Beijing’s push to realign institutions with its evolving political and ideological priorities.
Political Realignment and Ideological Oversight in China
Observers interpret the Yi Gang China leadership change as part of a broader strategy to consolidate political control and strengthen ideological unity across the financial and governance sectors. The CPPCC, while advisory in nature, plays a critical role in shaping policy consultation and promoting alignment among party members, business leaders, and academics.
Beijing’s continued emphasis on “political loyalty” and “discipline-first governance” suggests that even senior technocrats with strong international credentials are now subject to deeper scrutiny. Analysts believe this trend will likely influence future appointments across China’s economic institutions and advisory bodies.