Native name 姚刚 Education PhD Occupation Executive Residence Beijing, China | Years active 1993 - present Name Yao Gang | |
Born May 1962 (age 53) Wenshui County, Shanxi, China Organization China Securities Regulatory Commission (CSRC) | ||
Political party Communist Party of China | ||
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Yao Gang (simplified Chinese: 姚刚; traditional Chinese: 姚剛; pinyin: Yáo Gāng; born May 1962) is a Chinese executive who served as one of four vice-chairmen at the China Securities Regulatory Commission (CSRC), China’s top securities regulator. He was investigated by the Communist Party of China's anti-graft agency in November 2015, after a stock market rout rocked global markets. Yao's downfall marked the widened government crackdown on corruption in the financial industry. Zhang Yujun (张育军), former assistant chairman of the CSRC, was placed under investigation in the end of 2015.
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Yao is the highest-ranked securities official from the financial industry under investigation since Communist Party general secretary Xi Jinping started his ongoing anti-corruption drive when he took power in the 18th National Congress of the Communist Party of China.
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Biography
Yao Gang was born in Wenshui County, Shanxi, in May 1962. From 1993 onwards, he successively served as deputy director and director of China Securities Regulatory Commission's Department of Futures Supervision. He was general manager, deputy party chief and vice-chairman of Guotai Jun'an Securities in 1999. Three years later he was transferred back to China Securities Regulatory Commission as its director of the Department of Supervision. In 2008 he was promoted to vice-chairmen of the China Securities Regulatory Commission. On November 13, 2015, a one sentence statement issued by the ruling Communist Party's corruption watchdog body, the Central Commission for Discipline Inspection (CCDI), said that "Yao Gang was suspected of serious violations of discipline."