After the grand military parade in Beijing marking the 93rd anniversary of the founding of the People’s Republic of China, news of another high-ranking Chinese Communist Party official being investigated has surfaced. It was reported last week that Yi Huiman, the former chairman of the China Securities Regulatory Commission (CSRC) who was dismissed from his position in February last year, has been taken away for investigation by the Chinese Communist Party authorities.
According to sources cited by Reuters on Friday, September 5th, Yi Huiman, a senior official of the Chinese Communist Party, is suspected of corruption and was taken away for investigation by relevant departments last week. The investigation revolves around whether his relatives received improper benefits during his tenure as chairman of the CSRC.
The sources declined to reveal their identities and did not provide further details.
An account under the name “Asian Finance” revealed that “Yi Huiman’s arrest this time is related to his relatives’ involvement in multiple IPOs and internal corruption at Industrial and Commercial Bank of China.”
As of now, there has been no official confirmation from the Chinese Communist Party regarding the investigation into Yi Huiman.
Public records show that Yi Huiman, who is nearly 61 years old and hails from Cangnan, Zhejiang Province, had worked at the Industrial and Commercial Bank of China for 35 years before taking over as the Party Secretary and chairman of the CSRC from Liu Shiyu in early 2019, thus attaining the status of a senior ministerial official. After the 20th National Congress of the Chinese Communist Party, Yi Huiman became a member of the 20th Central Committee of the Chinese Communist Party. However, he was abruptly removed from his position as chairman of the CSRC in February last year and later entered the Chinese People’s Political Consultative Conference in June of the same year as a member of the 14th National Committee and deputy director of the Economic Committee.
Yi Huiman’s dismissal as chairman of the CSRC in February last year coincided with a sharp decline in the Chinese stock market. At that time, the official reasons for his dismissal were not disclosed. There were online rumors accusing Yi Huiman of corrupt practices, linked to a report made by Zhu Yongguo, a shareholder of the delisted A-share company Kangde Xin.
In recent years, the Chinese stock market has been turbulent, with the CSRC becoming a high-risk area.
Yi Huiman’s predecessor as chairman of the CSRC, Liu Shiyu, was announced to be under investigation in May 2019 and later in October of the same year, it was reported that due to Liu Shiyu’s initiative to confess, he was given a party warning and put under two years of probation, demoted to a researcher.
Prior to Liu Shiyu, the former chairman of the CSRC, Xiao Gang, was dismissed in 2016 in the aftermath of the stock market crash in 2015.
Furthermore, in July 2024, the vice chairman of the CSRC, Fang Xinghai, was dismissed from his position, and in December 2022, the vice chairman of the CSRC, Zhao Zhengping, was also dismissed.
On the evening of April 30, 2025, the Chinese Communist Party officially announced that the vice chairman of the CSRC, Wang Jianjun, is suspected of serious violations of discipline and law and is currently under investigation.