China’s financial liberalisation is likely to continue despite the arrest of a former top securities regulator and a crackdown on its banking and insurance sectors.
Liu Shiyu, a former chairman of the China Securities Regulatory Commission CSRC, is under investigation for corruption, the joint website of China’s two anti-graft agencies, the National Supervisory Commission and the Central Commission for Discipline Inspection, announced late on Sunday night.
On May 17, the China Banking Regulatory and Insurance Commission CBIRC had published a notice that it would tackle chaos and irregularities in the banking and insurance sectors.
In all likelihood, the investigation of...
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