Shen Renkang, also former party chief of the joint-stock commercial bank based in Zhejiang, was removed from his management roles in January last year, the watchdog said in a statement.

Shen, born in 1963, had served as deputy mayor of Lizhui city in Zhejiang province and mayor of Quzhou city in Zhejiang.

(Reporting by Ziyi Tang and Ryan Woo; editing by Jason Neely)