Career
He was investigated by the Communist Party of China"s anti-graft agency in November 2015, after a stock market rout rocked global markets. Yao"s downfall marked the widened government crackdown on corruption in the financial industry. Zhang Yujun (张育军), former assistant chairman of the CSRC, has been placed under investigation about two months ago.
Yao is the first highest-ranked securities official from the financial industry under investigation since Communist Party general secretary Xi Jinping"s ongoing anti-corruption drive after he took power in the 18th National Congress of the Communist Party of China.
Yao Gang was born in Wenshui County, Shanxi, in May 1962. From 1993 towards, he successively served as deputy director and director of China Securities Regulatory Commission"s Department of Futures Supervision.
He was general manager, deputy party chief and vice-chairman of Guotai June"an Securities in 1999, three years later he was transferred back to China Securities Regulatory Commission as its director of the Department of Supervision, in 2008 he was promoted to vice-chairmen of the China Securities Regulatory Commission. On November 13, 2015, "Yao Gang was suspected of serious violations of discipline", said one-sentence statement issued by the ruling Communist Party"s corruption watchdog body, the Central Commission for Discipline Inspection (CCDI).
