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China Central Banker Faces Probe Over Data Leaks – WSJ

Sun Guofeng, a top Chinese central banker, is under the lens for allegedly leaking official economic statistics to individual bond traders in exchange for personal gains


China's move last week to set up a yuan reserve pool, along with Indonesia, Malaysia, Hong Kong, Singapore and Chile, at the Bank for International Settlements is being seen as a step towards erecting infrastructure that will loosen the grip of dollar hegemony.
The People's Bank of China said that the arrangement would help meet reasonable global demand for the yuan and contribute to regional financial security, the report added. Photo: Reuters.

 

Sun Guofeng, a top Chinese central banker, is under the lens in China for allegedly leaking official economic statistics to individual bond traders in exchange for personal gains, The Wall Street Journal reported, citing people aware of the investigation by the Central Commission for Discipline Inspection.

The probe into Sun, who has been an employee at the central bank since the 1990s, is said to be the outcome of a sweeping round of checks at around 25 financial bodies, investment funds and lenders that was launched last year to maintain the Communist Party’s authority over these institutions, the report said.

Read the full report: The Wall Street Journal.

 

 

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

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