CITIC Securities has confirmed that it cannot contact its top Two investment bankers, Chen Jun and Yan Jianlin, after it was reported that both might be under investigation, following the rout on China's stock market over the summer. News magazine, Caixin, reported the pair were taken away by authorities on Friday, making them the latest executives to go missing from CITIC as the Chinese authorities deepen their investigation. two other big Chinese securities firms are part of the investigation, which may result in an attempt by the ruling Communist Party to deflect blame for the Shanghai index's 30% drop from its peak; state media had encouraged its people to buy stocks, creating a bubble.
CITIC Securities has confirmed that it cannot contact its top two investment bankers, Chen Jun and Yan Jianlin, after it was reported that both might be under investigation, following the rout on China's stock market over the summer. News magazine, Caixin, reported the pair were taken away by authorities on Friday, making them the latest executives to go missing from CITIC as the Chinese authorities deepen their investigation. Two other big Chinese securities firms are part of the investigation, which may result in an attempt by the ruling Communist Party to deflect blame for the Shanghai index's 30% drop from its peak; state media had encouraged its people to buy stocks, creating a bubble.