Guotai Boss Resigns amid Inquiry into Executives with Overseas Links

(Hong Kong) – The president of one of China's major brokerages, Guotai Junan Securities, has resigned as the central government strengthens efforts to check the family backgrounds and overseas links of executives at state-backed companies.

Shanghai-based Guotai Junan issued a statement on its website on June 4 that said Chen Geng submitted his resignation as company president for "personal reasons." Chen will remain as vice chairman.