Zhang Xiwu, former deputy head of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), has been demoted for serious disciplinary violations, the discipline arm of the Communist Party of China (CPC) announced Monday.

Zhang was found in serious violation of the Party's political code of conduct and relevant rules due to canvassing in elections, taking advantage of his positions to seek benefits for relatives, and carrying out profitable activities, according to a statement from the CPC Central Commission for Discipline Inspection (CCDI).

Zhang, also former deputy secretary of SASAC CPC Committee, tried to conceal his failings during inquiries, the CCDI said.

According to the statement, Zhang has been given penalties including dismissal from the Party post and being discharged as the delegate to the 18th CPC National Congress.

The profits from his improper activities will be confiscated, it added.