Retired Shandong Securities Regulator Put Under Probe

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING: China AI Developer Zhipu Hits Record $112 Billion Valuation; Xiaomi Slashes AI Model API Prices by 99% to Match DeepSeek; ChangXin Clears Key Hurdle for Record STAR Market IPO

LATEST: China AI Developer Zhipu Hits Record $112 Billion Valuation; Luxshare Gets Lenient Antitrust Fine Over Wingtech Deal; Flying-Car Startup Volant Raises $147 Million Ahead of Potential IPO; ChangXin Clears Key Hurdle for Record STAR Market IPO; Xiaomi Slashes AI Model API Prices by 99% to Match DeepSeek; Huawei Targets 1.4-Nanometer Chip Performance by 2031 With New Design Architecture; DeepSeek Cuts Flagship AI Model Prices by 75% as Funding Round Looms; Wingtech Sues Nexperia in China, Seeking $1.2 Billion and Control of Equity; DJI Says Mass Adoption of Delivery Drones, Flying Vehicles Still on the Distant Horizon; Nvidia Still Not Sure It Can Sell H200 Chips in China; Alibaba Expands AI Push With Model Update, New Chip; Recruitment Data Suggests AI Has Yet to Hurt Hiring of Coders in China; AMD Bets on Edge Computing in Race for AI PC Market; Robot-Dog Maker Deep Robotics Seeks $370 Million Shanghai IPO; Unitree Unveils ‘World’s First’ Production-Ready Mecha; China Establishes New Agency for the Low-Altitude Economy; Baidu CEO Says AI Agents Will Be the Measure of AI Success; Tencent Wins Regulatory Approval to Acquire Audio Platform Ximalaya; Kuaishou Weighs Seeking Outside Money for AI Video Unit; China Issues Guidelines to Standardize AI Agent Development

By Wang Juanjuan and Han Wei / Jun 15, 2019 03:50 AM / Finance

Photo: VCG

A former chief of the top securities regulator’s branch in northeast province of Shandong has been placed under graft investigation, six years after retirement, China’s top anti-corruption watchdog said late Friday.

Xu Tie, the former party chief and director of the Shandong bureau of the China Securities Regulatory Commission, is being investigated for “suspicion of severe violation in law and discipline,” the Central Commission for Discipline Inspection (CCDI) said.

Xu was the top securities regulator in Shandong between 2008 and 2013, when he retired from the post. Previously, he worked eight years in the CSRC’s offering supervision department overseeing initial public offerings. A total of 628 companies completed IPOs during Xu’s tenure as deputy head of the department, including scandal plagued Kangmei Pharmaceutical Co. Ltd.

A person close to the matter said Xu is being probed in related to Shandong-based auto parts producer Xingmin Intelligent Transportation Systems, whose chairman is reportedly under investigation. Xingmin didn’t reply to Caixin’s question for comment.

Share this article

Open WeChat and scan the QR code