The party chief of Vietnam's capital city Hanoi, Dinh Tien Dung, has resigned, the government said on Wednesday, marking the latest top official to exit as the ruling Communist Party carries out a major reshuffle.

Dung, 63, a former finance minister, was found by the party to be responsible for violations committed at the finance ministry during the 2016-2021 period, the government said in a statement.

Dung is a member of the Politburo, the most powerful decision-making body in the Southeast Asian country.

It was not clear whether Dung would be removed from the Politburo, which has seen six of its members leaving since late 2022 amid an intensified anti-graft crackdown and a major leadership reshuffle

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The government statement said the ministry of finance, in its 2016-2021 term, failed to properly manage the issuance and trade of some corporate bonds, while some ministry officials broke party rules.

"The violations and shortcomings of the ministry for the 2016-2021 term have caused serious and irreparable consequences, leading to significant losses to the state budget and hurting bond investors," the statement said.

The government said the Politburo had agreed to let Dung step down. (Reporting by Khanh Vu Editing by Ed Davies)