Former CSRC Vice Chairman Fang Xinghai Under Probe
China has placed Fang Xinghai, former vice chairman of the CSRC, under investigation for suspected serious violations of law and party discipline, according to CCDI and state media. The probe is being conducted by the CPC Central Commission for Discipline Inspection and the National Commission of Supervision, with CCTV and Reuters confirming the action. Fang led the CSRC from 2015 to 2024 and is the latest senior financial official to face anti-corruption scrutiny as Beijing seeks to steady the markets. State media have not disclosed details of the alleged misconduct. Fang earned a doctorate in economics from Stanford University and began his career at the World Bank, highlighting his long-standing international background. The case reflects ongoing anti-corruption actions targeting regulators within China's financial sector.
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