The chairman of China’s Harvest Fund Management has stepped down to cooperate in an investigation with local authorities.
Harvest Fund Management chairman Zhao Xuejun has resigned, according to a statement (in Mandarin only). He is cooperating with authorities in an investigation related to «personal problems» and not the firm’s fund business, which is operating normally.
Co-chair An Guoyong will serve as acting chairman.
China’s financial sector has been under a crackdown in recent times over a so-called «common prosperity» drive aimed at addressing inequality in the country. Dozens of senior figures in the industry have been detained in 2024, according to «SCMP», including Lou Wenlong, ex-vice president of state-owned giant Agricultural Bank of China.
