Yao Gang
Yao Gang | |
|---|---|
Diêu cương | |
| Born | May 1962 (age 62) Wenshui County,Shanxi,China |
| Education | Ph.D.in Economics |
| Occupation | Executive |
| Years active | 1993–present |
| Organization | China Securities Regulatory Commission(CSRC) |
| Political party | Chinese Communist Party |
Yao Gang(simplified Chinese:Diêu cương;traditional Chinese:Diêu cương;pinyin:Yáo Gāng;born May 1962) is aChineseexecutive who served as one of four vice-chairmen at theChina Securities Regulatory Commission(CSRC), China's top security regulator.[1][2]He was investigated by theChinese Communist Party's anti-graft agency in November 2015, after a stock market rout rocked global markets.[3]Yao's downfall marked the widened government crackdown on corruption in the financial industry. Zhang Yujun (Trương dục quân), former assistant chairman of the CSRC, was placed under investigation in the end of 2015.[4]
Yao is the highest-ranked securities official from the financial industry under investigation sinceGeneral Secretary of the Chinese Communist PartyXi Jinpingstarted his ongoing anti-corruption drive when he took power in the18th National Congress of the Chinese Communist Party.[4]
Biography
[edit]Yao Gang was born inWenshui County,Shanxi,in May 1962. From 1993 onwards, he successively served as deputy director and director ofChina Securities Regulatory Commission's Department of Futures Supervision. He was general manager, deputy party chief and vice-chairman ofGuotai Jun'an Securitiesin 1999. Three years later he was transferred back to China Securities Regulatory Commission as its director of the Department of Supervision. In 2008 he was promoted to vice-chairmen of the China Securities Regulatory Commission. On November 13, 2015, a one sentence statement issued by the ruling Communist Party's corruption watchdog body, theCentral Commission for Discipline Inspection(CCDI), said that "Yao Gang was suspected of serious violations of discipline."[5]
On September 28, 2018, Yao was sentenced to 18 years in prison and fined 11 million yuan for taking bribes worth 69.61 million yuan and illegally making 2.1 million yuan of gains from insider trading by the Intermediate People's Court in Handan.
References
[edit]- ^"Top China Market Regulator Yao Gang Arrested In Graft Probe".valuewalk.com.Brendan Byrne. 2015-11-13.
- ^Cai Xiao (2014-05-19)."Nation developing and opening up its securities industry".Chinadaily.
- ^"China investigates securities regulator's deputy head Yao Gang".India.com.2015-11-13.
- ^ab"Senior securities official under investigation".Chinadaily.Li Xiang. 2015-11-14.
- ^Trung quốc chứng khoán giam đốc quản lý ủy viên hội đảng ủy ủy viên, phó chủ tịch diêu cương thiệp hiềm nghiêm trọng vi kỷ tiếp thụ tổ chức điều tra.CCDI(in Chinese). 2015-11-13.