China Removes Social Security Fund Vice Chairman Amid Graft Probe
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China has removed a senior official overseeing social security fund investments, weeks after he was placed under investigation for suspected corruption.
The State Council removed Wang Wenling from his post as vice chairman of the National Council for Social Security Fund (NCSSF), the government said Friday.
Wang, 59, spent more than two decades at the NCSSF, overseeing its securities investments since becoming vice chairman in 2015.
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- China removed Wang Wenling as NCSSF vice chairman weeks after corruption probe.
- Wang, 59, oversaw securities investments since 2015 after 20+ years at NCSSF.
- NCSSF manages >3 trillion yuan ($437B) as social security reserve and key capital market investor.
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