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China to enhance supervision of inspection on securities, futures markets

Xinhua, December 4, 2015 Adjust font size:

China will establish a specific mechanism to guard against corruption in government inspections of securities and futures markets, the country's top securities watchdog said Friday.

The China Securities Regulatory Commission (CSRC) has issued new rules introducing third-party supervision in investigations of illegal practices on the stock and futures market in ten government branches, according to CSRC spokesperson Deng Ge at a weekly press conference.

The deputy head of CSRC's inspection team was removed from office by the country's top discipline inspection watchdog last month to facilitate investigation over insider trading cases.

CSRC is now inspecting 25 companies in securities, futures and fund businesses and will beef up inspection over time with the help of the Shanghai and Shenzhen exchanges.

Inspection cases keep growing at an average annual rate of 25 percent since 2012, posing a demanding task for CSRC. Endi