Economics
China Probes Official at Stock Regulator After Market Rout
- Zhang Yujun suspected of severe disciplinary violations
- Investigation follows insider trading case at biggest brokage
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A senior official at China’s securities regulator has been placed under investigation in the latest step authorities have taken to punish those they say contributed to a $5 trillion stock rout.
Zhang Yujun, an assistant chairman for the China Securities Regulatory Commission, is being investigated for “severe disciplinary violations," the Communist Party’s top disciplinary body said in a statement on its website. Zhang, 52, is one of three assistant chairmen at the CSRC and previously served as general manager of both the Shanghai and Shenzhen stock exchanges.