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China regulator to officials: Take graft fight seriously

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Feng Li | Getty Images

If there were any concerns that officials in China may have forgotten about the government's drive against graft, authorities are doing a pretty good job of reminding their troops.

China's foreign exchange regulator Tuesday released a statement in which it urged its officials to take seriously the ruling Communist Party's fight against corruption and follow rules closely, Reuters reported.

According to the memo from the forex regulator's internal discipline team, the State Administration of Foreign Exchange (SAFE) "pays great attention" to instructions about fighting corruption.

"In the face of all kinds of tests and temptations, you must be clear about what you can't do, what you can't eat, what places you can't go and what opinions you can't speak," it said in the statement carried by the Central Commission for Discipline Inspection.

"Pay attention to standards of behavior and keep a clear head," it added.

Scores of senior Chinese officials have been investigated or jailed in China after President Xi Jinping took power of the party's leadership in late 2012 and of the country's presidency in 2013. The crackdown has put a drag on consumption as fearful officials refrain from buying, receiving and gifting anything from mooncakes to luxury watches.

In addition to tackling corruption, Beijing has also intensified a probe on alleged market manipulation following a dramatic meltdown in its equity markets earlier in June and July.

Here is a reminder of action taken by authorities recently:

The Banker

Agricultural Bank of China President Zhang Yun was taken away to assist authorities with an investigation, people familiar with the matter said on Monday. 10312865

The Automobiles man

The Communist Party's anti-graft regulator said Monday it is investigating Zhu Fushou, the president of Dongfeng Motor Group —China's second-biggest automaker by sales— for "suspected severe violation of discipline". Discipline violations generally refer to corruption.

The Foreigners

On Monday, Shanghai police arrested two foreigners who allegedly manipulated stock index futures on the Shanghai Stock Exchange in June and July, state-owned Xinhua News Agency reported.

The Fund Manager

According to state-owned Xinhua news agency, the manager of Zexi Investment, Xu Xiang, was detained by police on Sunday. Xu, one of China's largest private money managers, is being investigated on charges of suspected insider trading.

The Oil man

Wang Tianpu, a former general manager of Chinese state-owned energy giant Sinopec Group was expelled from the Communist Party in September and will be prosecuted for graft.

The security aide

China's former security tsar, Zhou Yongkang was sentenced to life imprisonment in June 2015 by Tianjin No.1 Intermediate People's Court, Chinese state news agency Xinhua reported.