Yao Gang

Yao Gang (姚刚) (born May 1962) is a former Chinese politician. He held several prominent positions within the China Securities Regulatory Commission (CSRC), the main regulator of the Chinese stock market.

He joined the CSRC in 1993 and steadily rose through the ranks, eventually becoming Vice Chairman in 2008. During his tenure, Yao Gang was responsible for initial public offerings (IPOs), listings of new companies, and international affairs. He played a significant role in shaping the Chinese stock market and its integration with global financial systems.

In November 2015, Yao Gang was placed under investigation by the Central Commission for Discipline Inspection (CCDI) for alleged serious disciplinary violations. He was subsequently expelled from the Communist Party of China and removed from his public office. The investigation revealed accusations of accepting bribes and insider trading related to his position at the CSRC.

In 2019, Yao Gang was sentenced to 18 years in prison for bribery. The case was a high-profile example of the Chinese government's anti-corruption campaign targeting officials in the financial sector. His downfall highlighted the challenges of regulating a rapidly growing stock market and the potential for corruption within the regulatory framework.