BEIJING, April 30 (Xinhua) -- Yi Huiman, a member of the 20th Central Committee of the Communist Party of China (CPC), has been expelled from the CPC and dismissed from public office over serious violations of discipline and laws, China's top anti-graft agency announced Thursday.

Yi previously served as deputy director of the Committee of Economy of the 14th National Committee of the Chinese People's Political Consultative Conference and as chairman of the China Securities Regulatory Commission.

In a joint statement, the CPC Central Commission for Discipline Inspection and the National Commission of Supervision stated that the decision was made following an investigation into Yi's case, conducted with the approval of the CPC Central Committee.

Yi was found to have lost his ideals and convictions, failed to fully implement the major decisions and plans of the CPC Central Committee regarding the capital market, and engaged in superstitious activities.

Disregarding the Party Central Committee's code on improving conduct, Yi accepted gifts and money and took part in banquets and tourism activities that may have affected the impartial performance of his duties, the statement said.

Yi allegedly took advantage of his various posts to seek benefits for others in personnel promotions, listing approvals and fund-raising and loan approvals, and illegally accepted a huge amount of money and valuables in return, according to the statement.

Investigation found that Yi had seriously violated the Party's discipline, committed serious duty-related violations and was suspected of the crime of accepting bribes.

In line with Party regulations and laws, a decision has been made to expel him from the Party and public office, terminate his qualification as a delegate to the 20th CPC national congress, confiscate his illicit gains and hand over his case for judicial proceedings. ■