China demotes financial regulatory chief Li Yunze from NFRA
China has demoted financial regulatory head Li Yunze following a suspected disciplinary violation. He will reportedly be reassigned to a mid-level position.
Xurve View
Xurve View
China demoted Li Yunze, 55, head of the National Financial Regulatory Administration (NFRA), from his role overseeing the nation's $79 trillion financial sector. The move follows a suspected disciplinary violation and marks the latest high-level exit in Beijing's multi-year financial industry cleanup.
Li will move to a mid-level position within the regulator, people familiar with the matter said. His name and photograph were removed from the NFRA leadership list on the agency's website by Wednesday evening.
