China removes former head of securities regulator from government post after corruption probe

The former head of China's top securities regulator, Liu Shiyu, has been removed from a government position following an investigation by the country's anti-corruption watchdog, the watchdog said on Friday. Liu "severely violated political discipline and political rules", received gifts and used his power and position to seek personal gains for others, the Central Commission for Discipline Inspection said in a statement.

Liu will remain a member of the Chinese communist party, the watchdog said. Most officials involved in corruption charges are expelled from the party. Liu became head of the China Securities Regulatory Commission in 2016 and stepped down in January this year to take up the post of deputy party chief at the All-China Federation of Supply and Marketing Cooperatives.

In May this year, he was put under investigation on suspicion of violating laws and cooperated with the National Supervisory Commission for that investigation.