On November 24th, according to official reports, Wang Huimin, former member of the Communist Party’s Securities Regulatory Commission (CSRC) Party Committee and former head of the Discipline Inspection and Supervision Team of the Central Commission for Discipline Inspection (CCDI) and National Supervisory Commission (NSC) stationed at the CSRC, has been investigated and prosecuted for suspected criminal activities, and has been expelled from the Communist Party of China.
Wang Huimin is accused of abusing power and making reckless decisions, resulting in serious consequences. He failed to report personal matters according to regulations, sought benefits for others and received material gains in employee recruitment, engaged in exchange of benefits, accepted bribes on a large scale, used his position for personal gain in matters such as facilitating companies to go public, increasing capital through private placements, and securing promotions, as well as illegally accepting substantial amounts of money.
Even though Wang Huimin is retired, his entitlements have been revoked. The suspected criminal allegations against him have been referred to the prosecutors for further investigation and prosecution.
On March 21st of this year, the Communist Party officially announced Wang Huimin’s downfall.
According to Caixin, Wang Huimin’s son, Wang Bangzhong, was also taken away for investigation. This related news has been circulating for a week.
Public records show that Wang Huimin, born in February 1959, is a native of Ning County, Gansu Province. He worked in Xinjiang for a long time in his early years, holding positions such as Secretary and President of the Xinjiang Branch of the China Construction Bank, member of the Party Committee and Assistant Chairman of the Xinjiang Uygur Autonomous Region Government, Director of the Financial Work Office of the Autonomous Region Government, and Secretary of the Party Committee of the Rural Credit Cooperatives Union of the Autonomous Region.
In January 2014, Wang Huimin was appointed as a member of the CSRC Party Committee and Secretary of the Discipline Inspection Commission. In 2015, he became a member of the CSRC Party Committee and head of the CCDI Inspection Team stationed at the CSRC.
In April 2019, Wang Huimin retired upon reaching the statutory age.