According report with us, Chinese head of insurance and financial giant Anbang have been detained by the authorities.
Anbang is one of the country's richest and most powerful company in China, and the official said Wu Xiaohui was stepping aside as chairman.
Mr Wu Xiaohui said he was no longer able to fulfil his duties for "personal reasons".
A report also says, Mr Wu had been taken away from the Anbang Office Building on 8 June by police who arrived in two cars.
BBC report that, if Mr Wu's detention is confirmed by the authorities, he would be the highest-profile target of the government's attempt to re-establish state control of the financial industry, and target corruption.