Xu Mangang, director of the Supervision and Inspection Department of the State Administration of Foreign Exchange (SAFE) was taken by the Central Discipline Committee of CPC for investigation at the beginning of December 2008. He was involved in Guo Jingyi Case (our magazine had detailed reports in the 2008’s October edition), becoming the fifth high-ranking official involved in that case.

Xu Mangang was born in 1966. He graduated from the School of Law, People’s University of China in 1989 and then joined the SAFE. He had rich knowledge and experiences in the fields of foreign exchange administration, international finance, international trade and settlement. He once took charge of the drafting and modification of the Regulations on the Foreign Exchange System of the People’s Republic of China and took part in the compilation of most rules and specific documents of the Supervision and Inspection Department of the SAFE. He also joined in the drafting and modifications of many Chinese commercial laws.