China's CSRC assistant chairman is in hot water

MNI report that Zhang Yujan is in trouble

The Central Commission for Discipline Inspection has pulled up the China Securities Regulatory Commission's assistant chairman Zhang Yujan for "serious violations of discipline"

There's no reasons given but the CSRC have been heavy on the stock market in trying to contain the recent volatility

Knowing China he's probably just sharpened his pencil at both ends or not stamped the right form

In other news, the Chinese State Council has said it will cut companies tax burden by ¥5bn by allowing them to speed up the depreciation of fixed assets. They will be doing so by expanding the current six industries that can do so by four