Li Xiaohong, a former senior disciplinary official in charge of national inspection, has been placed under investigation for suspected severe disciplinary and legal violations, China’s top anti-corruption authorities said on Tuesday.
The downfall of the 73-year-old veteran – known for spearheading high-level anti-corruption crackdowns and his top disciplinary roles at the securities regulator – underscores Beijing’s continued efforts to target corruption among its most senior disciplinary enforcers and financial industry heads.
Li was suspected of “serious violations of discipline and law” – a euphemism for corruption – and is currently under disciplinary review and supervisory investigation by the Central Commission for Discipline Inspection (CCDI), according to a statement on its website.
Li’s fall, nine years after his retirement, is set to send shock waves through China’s financial sector and discipline inspection and supervision system, as he spent most of his political career in these two fields and held critical positions.
Li, a native of Hubei province, served as chairman and party secretary of the former Huaxia Securities in 2000, which was restructured into China Securities in 2005. Other posts included director of Citic Securities, party secretary and chairman of China Securities.
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