SFE official detained on suspicion of bribery

Yan Shaohui, a senior executive at the Shanghai Futures Exchange, has been detained on suspicion of taking bribes, a source at the exchange said.

Another source at the Shanghai Municipal People's Prosecution Service said that Yan is suspected of having taken about 200,000 yuan ($31,850) in bribes, given by suppliers of trading equipment to the exchange, including hardware and software.

Yan, who is still under investigation, was responsible for the exchange's IT system.

Zhang Guoyuan, a senior official with the Shanghai-based China Financial Futures Exchange, has also been detained on suspicion of economic crimes, financial news website Caixin.com reported.

Zhang is the head of IT systems at the CFFE, according to the exchange's website.

Yan and Zhang are among the highest-ranking officials in China's capital markets who have been detained on suspicion of economic crimes. Analysts said that the investigations into the two cases showed the State's determination to fight corruption and provide a fair environment for the capital markets.