Former CSRC Chairman Yi Huiman Under Investigation for Serious Violations

Beijing, China – Yi Huiman, the former chairman of the China Securities Regulatory Commission (CSRC), is under investigation for suspected serious violations of discipline and law. China’s top anti-corruption watchdog, the Central Commission for Discipline Inspection (CCDI) and the National Supervisory Commission (NSC), announced the probe on Saturday, September 6, 2025, following reports that he was taken away by authorities last week. The investigation marks a significant development in Beijing's ongoing crackdown on graft within the financial sector.

Yi, 60, led the CSRC from January 2019 to February 2024, overseeing major reforms in China's capital markets, including the launch of the STAR Market and the shift to a registration-based IPO system. Before his tenure at the CSRC, he had a long career in China's banking system, notably at the Industrial and Commercial Bank of China (ICBC). He was unexpectedly removed from his post at the CSRC amid a market downturn and was subsequently appointed as a deputy director of the economic committee of China’s top political advisory body.

The specific details of the alleged wrongdoing have not been fully disclosed by official sources. However, sources familiar with the matter suggest the investigation includes whether his relatives obtained improper benefits during his time as CSRC chief. This probe is part of an intensified anti-corruption campaign that has ensnared numerous high-ranking officials across various sectors, including finance.

Speculation regarding the investigation's breadth has emerged, particularly concerning its potential impact on businesses in Zhejiang province, Yi Huiman's home region. As noted by Liqian Ren on social media, > "The ex-CSRC head corruption case will ensnare many Zhejiang companies, as Mr. Yi grew up in Zhejiang, and gossiped to have big family." The tweet further suggested that > "investigations can be big or small and based on the two line official release, it's likely not yet decided on how wide to cast the net."

Yi Huiman's case is not isolated, as several former senior regulatory officials have faced similar probes in recent years, underscoring the Chinese government's "zero tolerance against corruption." His successor at the CSRC is Wu Qing. The ongoing investigation highlights the inherent pressures and scrutiny associated with leading China's volatile financial markets, a role often likened to "sitting by a volcano crater."