China has placed one of its top former financial regulatory officials under investigation, according to state media reports.Fang Xinghai, former vice-chairman of the China Securities Regulatory Commission, is suspected of “serious legal and disciplinary violations” and is currently undergoing an investigation by China’s Central Commission for Discipline Inspection, media reported on Friday.The 62-year-old, who held the regulatory position from October 2015 to July 2024, is the latest senior financial cadre to be targeted by China’s disciplinary authorities.The announcement comes as China strives to stabilise its stock market, with state agencies launching a coordinated effort to buy up stocks to arrest a decline in the market earlier this week.Fang, who graduated with a doctorate in economics from Stanford University, worked as an economist for the World Bank early in his career. He was one of several senior financial cadres who returned to China in the late 1990s.More to follow …