CSRC bureau chief dismissed for alleged stock irregularities

Reuters Shanghai | Updated on January 24, 2018 Published on June 20, 2015

China’s stock watchdog said on Saturday it has dismissed the head of its share issuance bureau because of suspected illegal stock trading by her spouse.

The China Securities Regulatory Commission (CSRC), in a statement on its official microblog-style Weibo account, said the official, Li Zhiling, was suspected of criminal activity and had been handed over to police.

The regulator, which pledged in the statement to “strike hard’’ at any law violations and irregularities, gave no details. Calls to the CSRC office on Saturday went unanswered, and it was not known how to try to contact Li.

A Chinese business magazine, Caixin, said Li had assumed her CSRC bureau chief role in 2012.

The dismissal is the first announced by CSRC since President Xi Jinping in late 2012 had launched an extensive crackdown on corruption. Xi vowed to target high-ranking “tigers’’ as well as lowly “flies’’.

Published on June 20, 2015
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