Cai Xiyou, former general manager of China's state-owned chemical firm Sinochem Group, has been expelled from the Communist Party of China (CPC) and dismissed from public office for violating the Party's code of conduct and corruption.

The CPC Central Commission for Discipline Inspection (CCDI) made the announcement Thursday following an investigation authorized by the CPC Central Committee.

Cai formerly held various high level positions including general manager of Sinochem Group and senior vice president of Chinese oil giant Sinopec Corp.

According to the CCDI, Cai was found to have severely violated political discipline and interfered with the Party inspection, as well as resisting investigation.

Cai was also accused of taking bribes, said the CCDI.

The investigation found that Cai had traded power for money and gifts, and ordered subsidiary companies to employ and promote his relatives.

The statement said that as a senior official of the CPC, Cai had lost his values, seriously violated the Party's code of conduct, and did not cease his inappropriate behavior even after the CPC 18th National Congress in 2012 when the new leadership launched the anti-corruption campaign.

The CPC Central Committee has approved his expulsion from the Party and the State Council has confirmed his removal from public office.

Cai's illegal gains will be confiscated and the case will be transferred to judicial organs for investigation, the CCDI statement said.

The CCDI announced its investigation into Cai in February, 2016.