Xu Zuo, former deputy general manager of CITIC Group, has been expelled from the Communist Party of China and removed from public office for serious violations of Party discipline and laws, the country's top anti-graft bodies announced on Thursday.

With the approval of the CPC Central Committee, the Central Commission for Discipline Inspection and the National Supervisory Commission launched an investigation into Xu's severe disciplinary and legal violations, according to a news release by the CCDI and NSC.

The investigation revealed that Xu had lost his faith, betrayed his original mission and resisted organizational scrutiny.

He was found accepting banquets and gifts in violation of regulations, concealing information about family property, and using his position to seek benefits for others in personnel selection and employee recruitment, for which he accepted property.

Additionally, he illegally held shares in unlisted companies and used his position to seek benefits for his relatives.

The release said that Xu's violations also included engaging in power-for-money deals, leveraging his position to benefit others in project contracting, business cooperation and personnel arrangements, and illegally accepting a large amount of property.

It further noted that Xu's actions severely violated Party discipline, constituted serious duty-related violations, and he was suspected of committing bribery and illegal business operations.

In accordance with Party regulations and laws, Xu has been expelled from the CPC and dismissed from public office by the NSC.

His illicit gains have been confiscated, and his case has been handed over to procuratorial authorities for further investigation and prosecution, according to the release.