What’s new: An Qingsong, the former chairman and party committee chief of the China Futures Association, is the latest senior official to face bribery charges in China’s sweeping anti-graft crackdown on the financial sector.
Prosecutors in Zhuzhou, Hunan province, indicted An for corruption. As a state official, An abused his power by seeking benefits for others in exchange of a large amount of illegal gains, according to a Wednesday statement published by the Supreme People's Procuratorate.
An should be held criminally responsible for bribery according to the law, prosecutors said.
Background: An was placed under investigation by authorities on Nov. 7, and his home searched, Caixin previously reported. He was expelled from public office and the Communist Party in May.
The 55-year-old worked for the China Securities Regulatory Commission (CSRC) for two decades, holding various positions including deputy director of the department supervising listed companies. He later joined the Securities Association of China in 2018 and the China Futures Association in 2023.
Sources told Caixin that the investigation of An might be related to his work at the CSRC as the China Futures Association is not a place likely to be involved with major mistakes.
The Central Commission for Discipline Inspection (CCDI), China’s top anti-graft watchdog, in May accused An of peddling his influence in various circumstances, such as during company IPOs and asset restructurings, as well as in his day-to-day work. The CCDI said his misconduct led to severe disruptions in the capital markets.
When An worked at the CSRC’s listing and shareholding restructuring departments, he worked with Xiao Shiqing, then deputy director of the two departments. In 2011, Xiao was sentenced to death with a two-year reprieve after he was found guilty of accepting 15.46 million yuan ($2.12 million) in bribes and making 100 million yuan from insider trading.
Contact reporter Han Wei (weihan@caixin.com)
