Securities regulatory official removed

Li Zhiling, former division chief at the CSRC. [Photo/China Daily]

China's securities watchdog said on Saturday it had dismissed a division chief in the department of public offering supervision, because of suspected illegal stock trading by her spouse.

The China Securities Regulatory Commission said in a statement on its official Weibo account, a Twitter-like microblogging service, that Li Zhiling was suspected of criminal activity and had been handed over to the prosecution department for investigation and possible punishment.

"The couple accumulating wealth by unfair means disrupted stock market order, and harmed the interests of investors. It is important to weed out anyone involved in such activities and crack down on them to defend the dignity and integrity of the stock market, and guarantee its healthy development," said the People's Daily said in its Weibo account.

The regulator, which pledged in the statement to "strike hard" at any illegal violations and irregularities, gave no further details of the alleged offenses.

Calls to the CSRC office went unanswered.

The CSRC made various adjustments to its management structure in April last year. Li served as one of nine division chiefs in the public offering supervision department, according to Caixin Media, a Chinese business magazine.