News: Former China Securities Regulatory Commission (CSRC) Chief Liu Shiyu (刘士余), who was transferred to All-China Federation of Supply and Marketing Cooperatives (ACFSMC) as Vice Party Secretary in January, turned himself in today to CCDI. Liu is now under investigation for violation of party displine and law.
Quick Take: Liu had previously based his entire career in the financial sector—he spent ten years in PBOC and two years in Agricultural Bank of China, and was appointed CSRC chief in Feb 2016. In January this year Liu was replaced by Yi Huiman (易会满), and was transferred to ACFSMC, an institution established in the 1950s and now overseen by the State Council. Liu’s case is most likely related to the IPO of banks in his hometown Jiangsu Province and may have broader repercussions in the financial sector. Contact us for more in-depth analysis on Liu’s case.
Fujian vice governor appointed secretary-general…
News: Fujian Vice Governor Zheng Xincong (郑新聪) was appointed Fujian CCPSC member and Secretary-General today.
Quick Take: A Fujian local, Zheng had been working for the province since 2001 and previously served in several prefectural-level cities. He was appointed Fujian Vice Governor in January 2018. Currently, Fujian is still lacking its Political and Legal Affairs Commissions Chief and Organization Department Chief.