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: In Depth: What’s in the China-U.S. Tariff Truce, and What’s Left Unsettled

LATEST: China Proposes Export Curbs on AI and Solar Technology; Global Smartphone Shipments Fall as Much as 22% as Costs Rise; Chinese AI Chip Startup SUNMMIO Raises Nearly 2 Billion Yuan in a Year; Analysis: Global Tech Sell-Off Tests Confidence in the AI Spending Boom; DeepSeek Restores Services After Nearly Five-Hour Outage; DJI Launches Battery-Swapping Dock to Cut Drone Downtime; Expanded U.S. Curbs on Electronics Using Huawei, ZTE Parts Take Effect; Alibaba Unveils AI Glasses in Push for Wearable Hardware Market; More Than 150 Apps Opt Out of ByteDance’s AI Phone Assistant; Chinese Chipmaker CanSemi Shares Surge 223% in Trading Debut; Tencent Integrates AI Agent WorkBuddy With Enterprise App; ByteDance Sets Up Dedicated AI Safety Unit to Manage Model Risks; China Weakness Weighs on LVMH’s Third Quarter Sales; FCC Proposal Threatens Chinese Labs’ Dominance in U.S. Electronics Testing; ByteDance, Tencent Rush to Launch Personal AI Agents After Meta’s Muse Success; Luxshare, Foxconn Among Firms Targeted in U.S. Power System Probe; CXMT Shares Suffer Biggest Drop Since July IPO; Xiaohongshu Pushes Further Into Gaming, Anime With Bigger Festival; In Depth: What’s in the China-U.S. Tariff Truce, and What’s Left Unsettled; AI to Drive Expansion in Cyberattacks, Industry Execs Warn

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