Harvest Fund Chairman Resigns Amid Probe
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.
