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Hidden bonuses bring down Shanghai Clearing House ex-boss

Confidentiality rules became tools for personal privilege and internal control

The Shanghai procuratorate's warrant for the arrest of Xu Zhen was issued nearly four months after the country's top anti-corruption watchdog had put Xu under investigation.   © Reuters

The former chairman of a clearing and settlement platform for the interbank market has been charged with corruption and bribery, the latest senior financial official to fall in the government's yearslong anti-graft campaign.

The Shanghai procuratorate issued a warrant for the arrest of Xu Zhen, former chairman and Communist Party secretary of the Shanghai Clearing House, nearly four months after the country's top anti-corruption watchdog said he had been put under investigation. The announcement of the warrant was released Thursday by the Supreme People's Procuratorate.

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