Former deputy chief of National Development and Reform Commission, Liu Tienan has been expelled from the Communist Party of China (CPC) and removed from public office for graft, the CPC's discipline watchdog said in a statement.
The CPC Central Commission for Discipline Inspection (CCDI) said it has found Liu, taking advantage of his position to seek profits for others, and both Liu and his family accepted huge amount of money and property.
Liu, 57, has been found to "seek benefits for his relatives' businesses by breaking relevant regulations, accept cash and gifts".
Liu's illicit gains have been confiscated.
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His expulsion from the CPC has been endorsed by the CPC Central Committee and his removal from public office has been endorsed by the State Council, according to the CCDI.
Liu's alleged actions constitute serious crimes and disciplinary offences, the statement said, adding his case will be transferred to judicial organs.
The investigation into Liu was launched in May after a Chinese journalist publicly accused him of having shady ties with a businessman and being involving in problematic bank loans.
Liu has served as a deputy chief of the NDRC since 2008.
Chinese President and CPC General Secretary Xi Jinping has announced that he would not tolerate corruption which could alienate the party from the people.
This week four judges in Shanghai were punished over allegations that they had visited prostitutes.
Last month, former railways minister Liu Zhijun was given a suspended death sentence for huge bribery.
Also last month Bo Xilai -- until last year one of China's 25 most powerful politicians -- was indicted for bribery, embezzlement and abuse of power.