Brokerage Vice President in Corruption Probe

What’s New: Chen Defu, vice president of Shanghai-listed Industrial Securities Co. Ltd., is being investigated “for personal reasons,” the company said on Friday (link in Chinese).

Such wording usually indicates connection with a corruption investigation.

What’s Next: Chen previously served a long tenure in various government roles in Southeast China’s Fujian province, including as secretary for former deputy governor Zhang Zhinan, before joining Industrial Securities in 2011.

Last week, Zhang came under investigation by the country’s top anti-corruption watchdog.

Such inter-related probes have become relatively common under a signature campaign by President Xi Jinping to root out corruption at all levels of government and in state-owned enterprises.

Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full Caixin article in Chinese, click here.

Related: Graft Busters Investigated Nearly 7,000 Cases of Financial Wrongdoing Last Year

Contact reporter Tang Ziyi (ziyitang@caixin.com) and editor Doug Young (dougyoung@caixin.com)