Yi Huiman, the former chairman of the China Securities Regulatory Commission (CSRC), is being investigated by authorities, according to people familiar with the matter. Yi was reportedly taken away last week, though no official announcement has been made. His removal follows his sudden ousting in February last year, when he was dismissed during a turbulent period for China’s financial markets. At that time, the Shanghai Composite Index slumped to a five-year low, sparking panic among both institutional and retail investors. The government gave no reason for Yi’s dismissal, fueling speculation about possible internal disputes or mismanagement.
Sources say Yi is now being probed for alleged corruption. Investigators are looking into whether members of his family obtained improper benefits during his time at the CSRC, where he oversaw some of the most volatile years in China’s stock market. No details have been released about the evidence or scope of the inquiry. Yi has not commented on the reports, and attempts by media to reach him have failed. The CSRC, the State Council Information Office, and China’s top anti-graft agency, the Central Commission for Discipline Inspection, have not responded to requests for clarification.
The investigation into Yi Huiman highlights the Chinese government’s ongoing crackdown on corruption within its financial institutions. Over the past decade, Beijing has expanded its anti-graft campaign into the financial sector, targeting senior officials and regulators accused of misconduct. The probe into Yi suggests that authorities remain highly concerned about accountability in market governance, especially after last year’s market turmoil.
Yi had been a high-profile figure in China’s financial system, taking charge of the CSRC in 2019 after previously serving as chairman of the Industrial and Commercial Bank of China, one of the country’s largest lenders. His tenure as securities chief coincided with government efforts to attract more international investment and stabilize the domestic stock market. However, under his leadership, markets remained volatile, and investor confidence weakened.
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The current case against Yi could be part of a broader push to strengthen political control over financial regulation, particularly as China continues to struggle with slowing economic growth and fragile market sentiment. With no official confirmation yet, the investigation remains sensitive. The lack of transparency leaves open questions about Yi’s downfall, but it reinforces the message that Beijing is determined to hold even the most senior financial officials accountable.
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