The Communist Party’s Central Commission for Discipline Inspection has announced it is investigating Yao Gang, vice chairman of the China Securities Regulatory Commission (CSRC), for graft, Reuters reported. The move comes just as a mild rally has begun for the Shanghai Composite Index, which has risen this month to around 3500–though said benchmark index remains far short of a stated goal of 4500 made by mainland brokerages following this summer’s market crash. Yao is the second senior CSRC official placed under investigation for “serious breaches of discipline” since the crash; the party’s anti-graft arm began investigating Zhang Yujun, an assistant chairman, in September.
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