A low-ranking Beijing official has been found to have embezzled 821 million yuan ($132.2 million) to conduct financial transactions, the nation's top graft-busting agency said.

Zhang Peishan, former director of the agricultural service center of Machikou township in Changping district, used escrow funds for financial investment from September 2008 to April last year, the Central Commission for Discipline Inspection said on its website.

Zhang put 3 million yuan of the funds into a personal account and pocketed the earnings. He also accepted 140,000 yuan from a loan and trust company.

The CCDI said Zhang has been stripped of Party membership and his case has been handed over to judicial agencies.

Zhang is one of 165 officials the CCDI has named and shamed for accepting bribes, embezzling public funds, holding lavish banquets, being derelict of duties and other violations.

China has declared war on corruption at all levels since 2012, vowing to go after powerful "tigers" and lowly "flies".

An eight-point rule was introduced by the Political Bureau of the Communist Party of China Central Committee at the end of 2012 to address bureaucracy, formalism and extravagance.

The CCDI has been publicizing such cases since April last year.