A total of 127 people in China’s banking industry have been sent to judicial departments for investigation into their alleged wrongdoings since August last year, according to 21st Century Economic Report.

Among these 127 people, half of them were banks presidents or chief of local branches. They were accused of bribery, embezzlement, illegal lending and other illicit acts, it said.

China’s massive anti-corruption campaign has led to thousands of arrests and convictions on graft charges so far.

The campaign is targeting at both "tigers and flies", high - and low - ranking officials.