PANews reported on November 20 that according to the website of the Central Commission for Discipline Inspection and the National Supervisory Commission, Yao Qian, former director of the Science and Technology Supervision Department and former director of the Information Center of the China Securities Regulatory Commission, was expelled from the Party and removed from public office for serious violations of discipline and law. Investigations show that Yao Qian regarded himself as a financial technology expert, spared no effort to support specific technology service providers for his own selfish interests, and was willing to be the "key training target" of the hunters. He abused the regulatory powers such as the right to recommend, formulate, and execute policies, abandoned the responsibilities of science and technology supervision, sought improper benefits for others in the expansion of business, software and hardware procurement of information technology system service institutions, and used virtual currency to trade power for money. He engaged in superstitious activities; ignored the spirit of the Central Committee's eight regulations, illegally accepted valuable items such as Maotai liquor and accepted banquets; violated organizational principles and sought benefits for others in the recruitment of employees; violated the discipline of integrity, and handed over the fees for renting cars that should be paid by individuals to the subjects of supervision, illegally borrowed large sums of money from the subjects of supervision, and illegally invested in enterprises. He illegally accepted property in extremely large amounts.
After research by the Party Committee of the China Securities Regulatory Commission, it was decided to expel Yao Qian from the Party; after research by the Discipline Inspection and Supervision Group of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed in the China Securities Regulatory Commission, it was decided to expel Yao Qian from public office; and to confiscate his illegal gains; after research by the Supervisory Committee of Shanwei City, Guangdong Province, it was decided to transfer Yao Qian's suspected criminal case to the procuratorate for review and prosecution in accordance with the law, and to transfer the relevant property together.
