The curious corruption case of China’s former securities chief Liu Shiyu and his lenient treatment
- Liu will not have to face court and will not lose his Communist Party membership despite ‘wrongdoings’ during his work
- Most officials accused of corruption have faced criminal charges and been expelled from the party
Before falling under the cloud of a corruption investigation in May, Liu Shiyu, China’s former top securities regulator, was a regular newsmaker.
During his three years at the helm of the securities regulator from 2016 to 2018, Liu made national headlines by pursuing what he called the “barbarians, demons, evil creatures or financial crocodiles” in the stock market.
Unlike other senior officials caught up in President Xi Jinping’s far-reaching crackdown on corruption, Liu, 58, will not face trial and not lose his party membership.
It’s an exception that might not be convincing to the public, observers said.
In a statement by the National Supervisory Commission (NSC), the anti-corruption super body, investigators said Liu had received gifts and money and had also shown favouritism.
