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People's Daily Online>>China Business

China's securities watchdog sacks high official

By Wang Lu and Cui Wenyuan (The Economic Daily)

15:58, December 02, 2011

Edited and Translated by Han Shasha, People's Daily Online

China's Securities Regulatory Commission (CSRC) announced on Dec. 1 that Wu Jianmin, a member of the third Merger and Reorganization Committee under the CSRC, was dismissed for malfeasance.

Wu, general manager of Beijing Pan SG Asset Appraisal Co., Ltd. and member of the third Merger and Reorganization Committee under the CSRC, was suspected of and being investigated for illegally holding the shares of the appraised listed company.

It is the first time CSRC has dismissed a committee member.

The CSRC will continue to maintain stringent supervision over illegal behavior, like market manipulation, embezzling funds and false disclosure of information.

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