China Securities Regulatory Commission expels former Shenzhen bureau head Chen Xiaopeng and transfers suspected bribery case to prosecutors

The disciplinary inspection and supervision group stationed at the China Securities Regulatory Commission (CSRC), together with the Supervisory Commission of Ganzhou City in Jiangxi, published the outcome of a disciplinary review and supervisory investigation into Chen Xiaopeng, former Party committee secretary and director of the CSRC’s Shenzhen Regulatory Bureau. Following the findings of serious disciplinary breaches and suspected duty-related crimes, the CSRC Party committee decided to expel Chen from the Communist Party of China, cancel related entitlements in accordance with rules, and confiscate illegal proceeds. The investigation found Chen had accepted high-end gifts (including Moutai liquor) and improper hospitality, repeatedly attended banquets that could affect impartial performance of duties, and long-term used vehicle services provided free of charge by regulated entities. It also cited failure to report personal matters as required, improper lending for large returns, and abuse of regulatory power across areas including routine supervision of securities firms and listed companies, inspection and enforcement work, IPO tutoring acceptance checks, issuance and listing, and major asset restructuring reviews, to seek benefits for others and accept illicit assets under the guise of investment and equity participation in particularly large amounts. Ganzhou’s supervisory authority decided to transfer the suspected criminal matters to the procuratorate for review and prosecution, with the related assets transferred at the same time.