Exclusive: Ex-IPO Regulator Found With Up to 300 Million Yuan in Cash
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Yang Jiaohong. Photo: AI generated
A former IPO overseer at the China Securities Regulatory Commission (CSRC) has been expelled from the Communist Party, joining a string of former IPO officials facing prosecution for suspected corruption.
Yang Jiaohong has been accused of several violations, including abusing his position at the top securities watchdog to make last-minute purchases of pre-IPO shares in companies preparing to list, reaping “huge” unlawful personal gain, according to a Friday announcement by graft-busters.
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- Former CSRC IPO overseer Yang Jiaohong was expelled from the Communist Party and faces prosecution for alleged corruption, including abusing his position to profit from pre-IPO shares.
- Anti-graft officials seized 200–300 million yuan ($27.8–$41.7 million) in cash from Yang's home in late 2024.
- Two other former IPO regulators, Li Xiaoqiang and Wu Guofang, were also expelled and investigated for suspected bribery.
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What Happened When
- 1998：
- Yang Jiaohong joined the CSRC.
- 2009：
- ChiNext board on the Shenzhen Stock Exchange opened, in which Yang played a key review role.
- August 2015：
- A Ningbo-based PE fund, possibly connected to Yang, was established.
- 2016：
- Yang Jiaohong resigned from the CSRC.
- late 2024：
- Anti-graft officials placed Yang Jiaohong under investigation and seized 200 to 300 million yuan in cash from his home.
- July 2025：
- Anti-graft watchdogs announced investigations of Li Xiaoqiang and Wu Guofang, two other former IPO regulators.
AI generated, for reference only
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Aug. 22, 2025, Issue 32
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