Star deputy at China's top securities regulator Wang Jianjun in corruption probe
A corruption investigation into
Wang Jianjun , a well-known deputy at China's top securities regulatory body, has sent a new round of shock waves through the country's financial sector.
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The top political disciplinary and anti-corruption body, the
Central Commission for Discipline Inspection (CCDI), said on Wednesday that Wang, 57, was suspected of 'serious violations of discipline and laws' – a standard euphemism for corruption.
Wang, who is vice-chairman of the
China Securities Regulatory Commission (CSRC), is facing 'disciplinary review and supervisory investigation', according to the corruption watchdog.
In this position, which he held since 2021, Wang, oversaw financial institutions, market and bond regulations. He previously spent more than five years at the Shenzhen Stock Exchange, serving in the key roles of party secretary and general manager.
In 2020, Wang delivered a total overhaul of ChiNext, expanding China's equivalent of the Nasdaq from 570 listed hi-tech companies to more than 1,000.
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Total market value soared, from 5.23 trillion to 13.14 trillion yuan (US$719.3 billion to US$1.8 trillion), making it the second largest stock market for small and medium-sized companies in the world.
The achievement was regarded as the most dazzling of Wang's career, winning him praise as 'professional, pragmatic, and thoughtful' from the mainland media, which hailed him as a reformist regulator with a 'growth mindset'.
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