FINANCE

China Indicts Former Anti-Graft Chief at Securities Watchdog for Bribery

Published: Apr. 23, 2026 11:44 a.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

Wang Huimin.

Chinese prosecutors have indicted Wang Huimin, a former anti-corruption chief at the country’s top securities regulator, on bribery charges, marking the latest step in the case against the veteran official.

China’s top prosecutor approved Wang’s arrest and designated prosecutors in Chengdu to handle the case, which has been filed with a local court, according to an official statement issued Thursday.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to Save an extra $50. Introductory offer for new readers. Subscribe now.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

Chinese prosecutors indicted ex-CSRC anti-corruption chief Wang Huimin, 67, on bribery charges; case filed in Chengdu court.
Wang probed March 2025, expelled from CCP November 2025; son Wang Bangzhong investigated simultaneously.
Links to 2016: donations to Xinjiang village (son deputy head), followed by CSRC approval of Dezhan backdoor listing sponsored by donor Shenwan Hongyuan.

AI generated, for reference only

Who’s Who

China Construction Bank Corp.: Wang Huimin held roles at state-owned China Construction Bank Corp. before serving in the Xinjiang government and becoming anti-corruption chief at the CSRC in 2014.

Dezhan Financial Investment Group Co. Ltd.: Dezhan Financial Investment Group Co. Ltd. donated 20 million yuan ($2.8 million) to a CSRC poverty alleviation village in Xinjiang on July 30, 2016, at a ceremony attended by Wang Huimin. Three days later, CSRC approved a backdoor listing for its subsidiary Beijing Jialin Pharmaceutical via Xinjiang Tianshan Wool Tex (later Dezhan Healthcare, 000813.SZ), sponsored by Shenwan Hongyuan.

Shenwan Hongyuan Group Co. Ltd.: Shenwan Hongyuan Group Co. Ltd. donated 6 million yuan ($840,000) at a July 30, 2016, ceremony for a CSRC poverty alleviation village in Xinjiang, attended by Wang Huimin. Three days later, it sponsored a backdoor listing of Beijing Jialin Pharmaceutical via Xinjiang Tianshan Wool Tex, approved by CSRC. (51 words)

Beijing Jialin Pharmaceutical Co. Ltd.: Beijing Jialin Pharmaceutical Co. Ltd., a Dezhan subsidiary, had a backdoor listing via Xinjiang Tianshan Wool Tex Stock Co. Ltd. approved by CSRC's M&A committee on July 30, 2016—three days after donations to a CSRC poverty alleviation village. Shenwan Hongyuan sponsored it; Xinjiang Tianshan later became Dezhan Healthcare (000813.SZ). Wang Bangzhong, son of indicted Wang Huimin, chaired an affiliate pre-listing and resigned after.

Xinjiang Tianshan Wool Tex Stock Co. Ltd.: Xinjiang Tianshan Wool Tex Stock Co. Ltd. facilitated a backdoor listing for Dezhan subsidiary Beijing Jialin Pharmaceutical Co. Ltd., approved by CSRC’s M&A committee three days after a July 30, 2016 donation ceremony. Shenwan Hongyuan was the sponsor. It was later renamed Dezhan Healthcare Co. Ltd. (000813.SZ). (52 words)

Dezhan Healthcare Co. Ltd.: Dezhan Healthcare Co. Ltd. (000813.SZ), formerly Xinjiang Tianshan Wool Tex Stock Co. Ltd., approved a backdoor listing of subsidiary Beijing Jialin Pharmaceutical Co. Ltd. on Aug. 2, 2016—three days after Dezhan Financial Investment Group donated 20 million yuan ($2.8M) to a CSRC poverty alleviation village attended by Wang Huimin. Wang Bangzhong chaired a Jialin affiliate pre-listing. (62 words)

AI generated, for reference only