He became a model of \”revolving door\” governance

On July 22, the website of the Central Commission for Discipline Inspection and the State Supervisory Commission announced that Zhu Yi, the former investigator of the Shanghai Supervision Bureau of the China Securities Regulatory Commission, was expelled from the party.

After investigation, Zhu Yi lost his ideals and beliefs, abandoned his original intention and mission, ignored the spirit of the eight central regulations, played golf in violation of regulations for a long time, accepted high-end banquets, accepted valuable gifts, and pursued a luxurious life; he lost the bottom line of supervision and took advantage of The issuance review power seeks improper benefits for others, illegally accepting property in huge amounts, seriously damaging the credibility of supervision; establishing nests in advance while in office, and members of the issuance review committee leaving their jobs quickly after their term of office expires, which is a typical example of \”revolving door\” governance.

The disciplinary inspection department pointed out: Zhu Yi seriously violated the spirit of the eight central regulations and integrity discipline, constituted a serious job violation and was suspected of bribery. The circumstances were serious and the impact was bad, so he should be punished. be dealt with seriously.

Zhu Yi has been working at the China Securities Regulatory Commission for a long time. He once served as deputy director of the Office of the Shanghai Supervision Bureau of the China Securities Regulatory Commission and a researcher at the Legal Affairs Office. Member of the issuance review committee and other positions. From August 2018 to November 2021, after he resigned from the China Securities Regulatory Commission, he served as assistant to the president of Guotai Junan Investment Management Co., Ltd., member of the executive committee of the investment banking division of Guotai Junan Securities Co., Ltd., and general manager of the investment banking department. Until November 2021 when it is investigated.

In the report, the relevant departments specifically mentioned that he is a typical example of \”revolving door\” governance. This expression is very new. On February 22 this year, when the Sixth Inspection Team of the Central Committee of the Communist Party of China reported the inspection situation to the Party Committee of the China Securities Regulatory Commission, it specifically pointed out that the China Securities Regulatory Commission was not fulfilling the \”two responsibilities\” of comprehensively and strictly governing the party, and the pressure transmission was not in place. A good atmosphere has not been formed, there are integrity risks in key areas and key positions, and the \”revolving door\” problem in politics and business is quite prominent.

On May 30 this year, the Central Commission for Discipline Inspection and the State Supervisory Commission published an article titled \”Deep Digging into the Corruption Behind the Revolving Door of Politics and Business\”, which gave a detailed look at the \”revolving door\” issue. Explanation. \”Revolving door\” is a metaphor that refers to some corrupt officials moving around in the political and business circles and engaging in power-for-money transactions: \”Leading cadres hold a certain amount of public power during their tenure. Even if they leave their posts, their original powers will remain unchanged.\” It will still have an impact or function within a certain range and for a period of time. Therefore, leading cadres who resigned or retired illegally took up positions, worked part-time, and received remuneration in companies within their original business jurisdiction. Regarding these issues, the discipline inspection and supervision department made it clear: The key to standardizing the relationship between government and business is to cut off the gray connections between the two parties. To plug the loopholes in the \”revolving door\” of politics and business, leading cadres must remember that \”there are two ways to make money for officials.\” \”Don\’t mistake public power for private ability.

Officials working in the financial regulatory industry must be extremely cautious in using their power. If they are controlled by greed, they can easily become prey to unscrupulous businessmen and fall into the quagmire of corruption. Previously, the disciplinary inspection department has investigated and dealt with corruption in some securities regulatory commission systems. Officials also attracted outside attention.

In May 2021, Mao Bihua, the former party secretary and director of the Chongqing Supervision Bureau of the China Securities Regulatory Commission, was expelled from the party and public office for serious violations of discipline and law. In April 2022, Zeng Changhong, the former first-level inspector of the Investor Protection Bureau of the China Securities Regulatory Commission, was expelled. Expelled from the Party in June of the same year, former director of the Accounting Department of the China Securities Regulatory Commission. Wang Zongcheng, former party secretary and director of the China Securities Regulatory Commission’s Shandong Securities Regulatory Bureau, Feng Henian, was investigated. Now, Zhu Yi, the former investigator of the China Securities Regulatory Commission’s Shanghai Supervision Bureau, has been expelled from the party, which once again sounded the alarm for financial regulatory cadres.

Data source: Website of the Central Commission for Discipline Inspection and the National Supervisory Commission, etc.

Editor in charge: Yang Xinyu

Source: China Youth Daily client