Shanghai Stock Exchange Veteran Investigated, Sources Say

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Dong Guoqun. Photo: China Association for Public Companies

A 28-year veteran of the Shanghai Stock Exchange (SSE) has been put under investigation by authorities, Caixin has learned from sources with knowledge of the matter.

Dong Guoqun, an executive vice president of the bourse, was taken away by authorities Monday, nine days after the end of an onsite inspection at the SSE by the Central Commission for Discipline Inspection (CCDI), the sources said. The CCDI is the ruling Communist Party’s top corruption watchdog.

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Dong Guoqun, an executive vice president of the Shanghai Stock Exchange, is under investigation by authorities.
The investigation follows a recent inspection by the Central Commission for Discipline Inspection.
Dong's investigation is linked to potential misconduct uncovered during the inspection; similar cases of corruption at the SSE involved other officials like Liu Ti and Zhang Dongke.

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Who’s Who

China Securities Finance Corp. Ltd.: China Securities Finance Corp. Ltd. is a state-owned company in which the Shanghai Stock Exchange (SSE) holds a share. It is involved in financial services related to securities. Dong Guoqun, the SSE executive under investigation, represents the SSE on the board of China Securities Finance Corp. Ltd.

China Securities Depository and Clearing Corp. Ltd.: China Securities Depository and Clearing Corp. Ltd. provides depository and clearing services for the Shanghai and Shenzhen stock exchanges. Dong Guoqun, currently under investigation, serves as a supervisor there. The company plays a critical role in China’s financial market by ensuring the safe handling and settlement of securities transactions.

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What Happened When

1996：: Dong Guoqun started working at the Shanghai Stock Exchange (SSE).

2018：: Zhang Dongke, a former vice chairman, retired.

2019：: Dong Guoqun became an executive vice president overseeing core units at the SSE.

Last year (2023)：: Liu Ti, a former executive vice president, was probed by the anti-graft agency and subsequently prosecuted.

Last year (2023)：: Zhang Dongke was taken away by authorities.

April 2024：: SSE Chairman Qiu Yong mentioned the inspection of the SSE by the CCDI at an internal meeting.

Monday, 2024-07-29：: Dong Guoqun was taken away by authorities, nine days after the end of an onsite inspection at the SSE by the CCDI.

Wednesday, 2024-07-31：: Caixin’s attempts to contact Dong were unsuccessful.

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