Bribes, Booze and Books Uncovered in Veteran Securities Regulator’s Corruption Probe

A veteran securities regulator, An Qingsong, has been ousted from his position and expelled from the Communist Party following a corruption probe which revealed he accepted bribes in the form of Moutai liquor and leveraged his influence to promote his own books among subordinates [para. 1]. An served as chairman and party committee chief of the China Futures Association and was removed from his posts, as declared by the Central Commission for Discipline Inspection (CCDI), which is China's main anti-corruption agency [para. 2][para. 3].

An, aged 54, has had a long career at the China Securities Regulatory Commission (CSRC) spanning two decades. He rose to the position of deputy director of the department overseeing listed companies in 2007. Subsequently, he joined the Securities Association of China in 2018 and more recently the China Futures Association in the previous year. The graft investigation was initiated in November [para. 3].

The CCDI's announcement detailed various instances of influence peddling by An, including during Initial Public Offerings (IPOs) and asset restructurings, and during his routine work duties. The CCDI emphasized that An's actions severely disrupted the capital markets [para. 4].

Additional infractions by An included unauthorized possession of confidential documents, engaging in superstitious practices, and providing inaccurate information during party investigations. He accepted substantial bribes, which included lavish gifts such as alcohol, meal engagements, and travel. Moreover, he failed to fully disclose his property holdings both within and outside the Chinese mainland [para. 5]. In leveraging his influence, An helped others secure employment and pushed for the promotion of his own literary works to his subordinates [para. 6]. The CCDI reported that he also amassed books containing politically problematic content [para. 6].

An holds a doctorate in economics from Nankai University, located in Tianjin. Originally from Guizhou province in Southwest China, which is famously known for Moutai liquor, An was noted by acquaintances to have a particularly high tolerance for alcohol [para. 7]. Contact details are provided for reporter Zhang Yukun and editor Michael Bellart, indicating the available channels for further information [para. 8].

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