September 17, 2015 / 2:44 AM / 4 years ago

China graft watchdog urges bank regulator 'leave no stone unturned'

A woman walks past a signboard of CITIC Securities at its head office in Beijing March 27, 2013. REUTERS/Kim Kyung-Hoon

SHANGHAI (Reuters) - China’s banking regulators must “leave no stone unturned” rooting out illegal activity, the ruling Communist Party’s anti-graft watchdog said on Thursday, intensifying a campaign against graft launched by President Xi Jinping.

Dozens of senior officials have been investigated or jailed since Xi took over the party’s leadership in late 2012 and the presidency in 2013.

“In the past half year Huarong, Great Wall, Dongfang, Xinda, four other asset management companies, and China Merchants Bank have all been investigated, and concrete results achieved,” the party’s Central Commission for Discipline Inspection said.

It went on to urge China Banking Regulatory Commission officials to increase their vigilance.

“Handle in accordance with the rules problems of breaches of discipline and the law,” it said. “Ensure no stone is left unturned.”

China’s financial regulators have been under heavy pressure since stock markets began to tumble in mid-June after a long bull run, though the statement made no mention of that.

On Wednesday, the corruption watchdog said Zhang Yujun, the assistant chairman of the China Securities Regulatory Commission, was being investigated for “serious violations of the law”.

Police are also investing three top executives at Citic Securities, China’s largest broker, the official Xinhua news agency said on Tuesday.

Reporting By Nathaniel Taplin; Editing by Simon Cameron-Moore

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