Key facts
- Dong Guibo, former Communist Party chief and director of Zhejiang's state-owned assets supervision and administration commission, has surrendered to authorities.
- Dong Guibo is being investigated for suspected serious violations of discipline and law, a common euphemism for corruption.
- A senior financial regulator's profile was removed from a government website in Zhejiang province.
Zhejiang province in China is facing a dual wave of official fallout related to corruption and financial regulation. Dong Guibo, the former Communist Party chief and director of the provincial state-owned assets supervision and administration commission, has surrendered to authorities. He is under investigation for "suspected serious violations of discipline and law," a phrase commonly used to denote corruption.
In parallel, a senior financial regulator's profile has been removed from a government website, indicating further official scrutiny within the province's financial sector. The province is known for its wealth and coastal location.