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China Places Former Deputy Chief of Securities Regulator Under Investigation
The anti-graft watchdog says Fang Xinghai is suspected of corruption and abuse of power as China widens its finance-sector crackdown.
- On Friday, China's Central Commission for Discipline Inspection announced an investigation into Fang Xinghai, former vice-chairman of the China Securities Regulatory Commission, for suspected 'serious violations of discipline and law.'
- Fang, who holds a PhD from Stanford University and previously worked at the World Bank, served as the CSRC's vice chairman from October 2015 until July 2024.
- Disciplinary authorities have targeted numerous senior financial cadres in recent years, including former CSRC chair Yi Huiman, who was found to have 'illegally accepted huge amounts of bribes.'
- This investigation coincides with Beijing's coordinated effort to stabilize the stock market, as state agencies launched share-buying initiatives earlier this week to arrest a market decline.
- The probe expands China's sweeping campaign to clean up corruption in the finance sector, consolidating the central leadership's supervisory control over the industry.
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12 Articles
12 Articles
Fang served as vice president of the China Securities Regulatory Commission (CSRC) and worked as an economist at the World Bank headquarters
·Madrid, Spain
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Who is Fang Xinghai? Former China Securities Regulator Placed Under Investigation
China's state broadcaster CCTV reported July 24 that Fang Xinghai, who served as vice chairman of the China Securities Regulatory Commission until his retirement in 2024, is under investigation.
·Singapore
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Former CSRC Vice Chairman Fang Xinghai Under Investigation
Former CSRC Vice Chairman Fang Xinghai Under Investigation - The probe into the former top regulator, known for promoting China’s capital-market opening, is the second investigation involving a former CSRC vice chairman in recent years
·Beijing, China
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Coverage Details
Total News Sources12
Leaning Left4Leaning Right2Center3Last UpdatedBias Distribution45% Left
Bias Distribution
- 45% of the sources lean Left
45% Left
L 45%
C 33%
R 22%
Factuality
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