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Xiao Yi, former vice chairman of East China's Jiangxi Provincial Committee of Chinese People's Political Consultative Conference (CPPCC), was prosecuted for taking bribes, abuse of power, and assisting enterprises in virtual currency mining activities in violation of national industrial policy, the Supreme People's Procuratorate (SPP) said on Tuesday.

Xiao has been prosecuted by the Hangzhou People's Procuratorate, East China's Zhejiang Province, for taking bribes on government-funded projects from private businesses, with Xiao raking in a significant amount of illegal proceeds.

Investigation revealed that Xiao abused his power to offer favors to enterprises engaged in virtual currency mining activities during his term as Party secretary of Fuzhou city, Jiangxi Province, by offering financial subsidies, electricity guarantees and other illegal forms of assistance, which resulted in heavy losses of public funds.

Xiao, born in 1962, was appointed Party secretary of Fuzhou in April 2015, and was appointed as vice chairman of the Jiangxi Provincial Committee of CPPCC in January 2018.

On May 10, 2021, the Central Commission for Discipline Inspection (CCDI), the country's top anti-graft body, announced that Xiao was being placed under investigation. In November 2021, Xiao was expelled from the CPC and barred from public office.