Police Detain Two Bond-Trading Executives at Hongyuan

(Beijing) – Two bond-trading executives at Hongyuan Securities have been taken away by police amid a regulator's crackdown on illegal bond business.

Chen Zhijun is the general manager of Hongyuan's bond sales and trading department, and Ye Fan is the vice general manager. The department contributed 80 percent of the 1.1 billion yuan profit the securities firm made last year.