Former CSRC chairman Yi Huiman formally prosecuted for taking ‘especially large’ bribes

Former China Securities Regulatory Commission (CSRC) chairman Yi Huiman has been formally prosecuted for accepting "especially large" bribes, according to Beijing's ongoing anti-corruption campaign in the financial sector. Prosecutors in Qingdao filed a case against Yi with the Qingdao Intermediate People's Court following an investigation by the National Commission of Supervision.

Yi allegedly abused his positions at ICBC, CSRC, and other roles to seek benefits for others and illegally accepted a large amount of property, though the exact value was not disclosed. Yi, 61, served as ICBC president and CSRC chairman, leading capital-market reforms during his tenure. He was placed under investigation in September last year and expelled from the Communist Party in April, accused of helping others secure promotions, stock-listing approvals, and bank loans in exchange for bribes.

This prosecution follows the investigation of former CSRC vice-chairman Fang Xinghai, who was also under investigation for suspected serious violations of discipline and law. The crackdown reflects Beijing's intensified focus on financial sector corruption, including tightened scrutiny of Chinese wealth held overseas and new tax rules requiring residents to report offshore assets and income.

Chinese lawmakers are currently reviewing a cross-border anti-corruption bill to strengthen authorities' ability to track and recover illicit assets held abroad.