The 73-year-old who retired nine years ago from the CCDI is suspected of ‘serious violations of discipline and law’
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’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.
Source: News - South China Morning Post
