Former China securities regulator Fang Xinghai placed under anti‑corruption investigation

On July 24, China’s Central Commission for Discipline Inspection and the National Commission of Supervision announced that Fang Xinghai, the former vice chairman of the China Securities Regulatory Commission (CSRC), is under investigation for “serious violations of Party discipline and laws.” Fang, a Stanford‑educated economist who served as CSRC vice chairman from October 2015 until his retirement in 2024, was a prominent figure in opening China’s capital markets to foreign investors and frequently represented China at international forums such as Davos.

The probe marks the second senior CSRC official to face disciplinary scrutiny in recent years, following the earlier investigation of former CSRC chairman Yi Huiman. Observers note that the case could affect policy continuity for foreign participation in Chinese markets, as Fang was the architect of many market‑access programs. Market participants are advised to monitor whether the investigation leads to specific charges or influences future regulatory direction.

Fang was succeeded by Li Ming after his retirement. The investigation underscores the continued focus of President Xi Jinping’s anti‑corruption campaign on the financial sector, which has previously targeted banking, insurance and state‑owned enterprises.