The National Financial Supervision and Administration Bureau of the People’s Republic of China, also known as the “Jinguan Bureau,” deleted the information of its director, Li Yunze, from its official website yesterday (April 29th), leading to reports of Li Yunze being demoted. The reasons behind Li Yunze’s downfall are varied. Some speculate that he was involved in helping his son, who was involved in a drunk driving or drug-related incident, to resolve the matter and that it is related to the fallen former Director of the Sichuan Provincial Public Security Department, Ye Hanbing. Others believe that Li Yunze was removed from his position due to being caught up in the power struggle between Xi Jinping and Wang Qishan’s factions.
On April 28th, the Communist Party of China also announced the dismissal of Han Jun from his position as Party Secretary of the Ministry of Agriculture and Rural Affairs. Reports from Hong Kong media suggest that the early retirement of 62-year-old Han Jun and Li Yunze’s demotion both involve family issues, with rumors circulating that Li Yunze’s wife is involved in corrupt activities.
It is reported that on April 28th, Li Yunze was dismissed and allegedly demoted to the rank of a Level 1 inspector, a non-leadership position.
Screenshots circulating on the internet show that as early as April 18th, Li Weiao, chief reporter of the mainland’s Economic Observer, posted on Weibo, mentioning a powerful figure’s son involved in a drunk driving or drug-related incident, and the father had to intervene to settle the matter. This post is believed to be alluding to Li Yunze.
Netizens commented, questioning whether the post referred to Li Yunze and speculating on the implications of powerful figures getting involved in such matters.
On March 18, 2012, a Ferrari crash occurred in Beijing in the early hours of the morning, resulting in the death of a young man and injuries to two women, one of whom later succumbed to her injuries. Following the brief initial reports of the incident, it was suppressed. Reports indicated that the deceased young man was the only son of Ling Jihua, who at the time was the head of the General Office of the Chinese Communist Party Central Committee. Overseas reports suggested that Ling Jihua used the resources of the General Office’s security bureau to seal off the scene and suppress information after his son’s accident, which led to changes in his political career.
Independent commentator Cai Shenkun stated on a social media platform on April 30th that Li Yunze, similar to Han Jun, had undergone a sudden demotion from a ministerial-level position to a deputy bureau-level one. Li Yunze’s downfall, resembling Ling Jihua’s son’s accident, was reportedly caused by his son’s involvement in a fatal drunk driving incident in Chengdu, allegedly necessitating intervention from Li Yunze’s wife, who sought assistance from Sichuan’s Deputy Governor and Public Security Department Director Ye Hanbing. Ye Hanbing’s subsequent troubles led to the exposure of Li Yunze’s hidden dealings and a series of allegations against Li Yunze’s wife related to bribery and illicit gains.
Furthermore, in May 21, 2025, Ye Hanbing, Deputy Governor of Sichuan Province, Director of the Public Security Department, and Deputy Secretary of the Provincial Party Committee, was investigated and later expelled from the Party. Official reports at the time cited Ye Hanbing’s involvement in clique activities, improper intervention in law enforcement activities, and illicit acceptance of substantial bribes.
However, many believe that Li Yunze’s downfall is connected to the Chinese Communist authorities’ tightening grip on Wang Qishan’s supporters.
A former Deputy Director Liu residing in the United States commented on the platform, suggesting that Li Yunze’s situation is not simply a matter of being demoted and reassigned but is a sacrifice in the power struggle between Xi Jinping and Wang Qishan.
Former Chinese Vice President Wang Qishan wields considerable influence in the financial sector. In recent years, several of his close associates and former subordinates have fallen from grace, including several senior officials in the financial system. For example, Dong Hong, a former Deputy Director of the Central Inspection Commission, was convicted of corruption and sentenced to death with a reprieve in 2022 under Wang Qishan’s leadership at the Construction Bank. In another instance, Wen Yifei, a former Deputy Governor of the People’s Bank of China, was also sentenced to death with a reprieve on October 10, 2024. Wen Yifei previously served as the financial director during Wang Qishan’s tenure as President of the Construction Bank.
Born in September 1970 in Yantai, Shandong Province, Li Yunze joined the China Construction Bank in 1993 under Wang Qishan’s leadership.
With over 20 years of service at the China Construction Bank, Li Yunze held various positions such as Deputy Head of the Tianjin Branch, General Manager of the Planning and Finance Department of the Headquarters, and President of the Chongqing Branch. In 2016, he transferred to serve as Deputy Head of the Industrial and Commercial Bank of China and later became Deputy Governor of Sichuan Province, followed by serving as a member of the Provincial Party Committee and Deputy Governor. He was a candidate member of the 20th Central Committee. In 2023, the Beijing authorities established the Jinguan Bureau, with Li Yunze assuming the role of its first director.
In late March of this year, Deputy Director Zhou Liang of the Jinguan Bureau was officially removed from his post. Zhou Liang had served as Wang Qishan’s secretary for an extended period and held positions such as Minister of the Organizational Department of the Central Commission for Discipline Inspection and Vice Chairman of the Chinese Banking Regulatory Commission.