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China Arrests IPO ‘Big Sister’ From CSRC on Bribery Charges

China’s top prosecutor arrested Zeng Changhong, a former official at the China Securities Regulatory Commission’s investor protection bureau, on suspicion of taking bribes.

Zeng, who had been in charge of approving initial public offerings, is accused of having used her position for personal financial gain, the prosecutor said in a statement. She was placed under investigation in October 2021, and formally expelled from the Communist Party on April 1 for having improperly accepted gifts and shares of companies seeking listings, according to a statement from the Central Commission for Disciplinary Inspection.