Yi Huiman, former chairman of the Chinese Communist Party's Securities Regulatory Commission, was officially transferred to prosecutors and indicted on September 30 on suspicion of accepting bribes and sex-for-power transactions.
On September 30, according to official media reports, the Supreme People's Procuratorate made an arrest decision against Yi Huiman, former chairman of the China Securities Regulatory Commission (CSRC), on suspicion of accepting bribes, and designated the Qingdao Municipal People's Procuratorate to review and prosecute the case. Recently, an indictment was filed with the Qingdao Intermediate People's Court, accusing him of illegally accepting huge amounts of property by exploiting the privileges of his positions at the Industrial and Commercial Bank of China and the CSRC.
Yi Huiman was expelled from the Party and public office; the communique mentioned relatives seeking personal gain through listing approvals, financing and loans.
Former CSRC Chairman Yi Huiman has been removed from his post.
On September 5, multiple media outlets confirmed that Yi Huiman, former chairman of the China Securities Regulatory Commission (CSRC), has been taken away for investigation on suspicion of corruption, marking the second probe of him this year. Sources familiar with the matter said it is related to his relatives interfering in IPOs and internal corruption at ICBC. During his tenure, he oversaw 1,838 A-share IPOs with a total value exceeding 11 trillion yuan.
On February 7, 2024, the CCP Central Committee and the State Council removed Yi Huiman from his posts as Party Committee Secretary and Chairman of the China Securities Regulatory Commission (CSRC), with Wu Qing succeeding him; outsiders believe this is related to the continuous decline of A-shares at the time.