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Tuesday, September 22, 2015, 15:42

Assistant CSRC chairman sacked

By Xinhua
Assistant CSRC chairman sacked
In this file photo dated January 21, 2010, then president of Shanghai Stock Exchange, Zhang Yujun, attends a joint press conference in Hong Kong. (Photo / AFP)

BEIJING - Zhang Yujun, assistant chairman of China Securities Regulatory Commission, has been removed from office for "severe disciplinary violations," authorities announced on Friday.

The Communist Party of China (CPC) Central Committee made the decision, accordign to a statement released by the Organization Department of the CPC Central Committee.

The CPC Central Commission for Discipline Inspection announced an investigation into Zhang on Sept 16.

Zhang is the first China Securities Regulatory Commission (CSRC) official to come under investigation amid stock market turmoil, which started in June.

This came on a day Chinese shares closed higher, with the benchmark Shanghai Composite Index rising 0.92 percent to end at 3,185.62 points.

The Shenzhen Component Index gained 0.61 percent to close at 10,238.69 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, edged down 0.02 percent to close at 2,078.72 points.

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