Economics
China's Stock Probes Entangle Regulators, Securities Executives
- CSRC's Zhang Yujun led Shanghai and Shenzhen exchanges
- 10 people named as under investigation in state media
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A former head of the Shanghai and Shenzhen stock exchanges is among the regulators and securities-firm employees publicly named as being under investigation after a summer slump in the nation’s stocks.
The probes follow a market rout that wiped $5 trillion from the value of Chinese shares. The government’s response to the market slide, which has involved state purchases of shares and various restrictions on selling equities, has raised questions among investors about its commitment to market reforms.