Police arrest Kangde Xin’s major shareholder in a show of force to support regulator’s crackdown on corporate malfeasance

Chinese police arrested the owner of a company on the Shenzhen Stock Exchange on Sunday, a show of force after the securities regulator pledged to crack down on malfeasance to force the country’s listed companies to improve their corporate governance.Zhong Yu, the 69-year-old former chairman and controlling shareholder of Kangde Xin Composite Material Group, was arrested on Sunday, the public Security Bureau of Zhangjiagang city in eastern China’s Jiangsu province announced via its Sina Weibo… Source link

Read More