China intensifies financial crackdown, targets funds, banks
Agricultural Bank of China president taken away to assist in investigation
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Beijing
CHINA'S crackdown on its financial industry is intensifying as authorities investigate strategies blamed for exacerbating a US$5 trillion stock-market rout.
Shanghai police raided hedge fund Zexi Investment on Sunday, taking away computers and other materials, according to a person familiar with the matter. General manager Xu Xiang was detained, the official Xinhua news agency reported. Executives at Yishidun International Trading and Huaxin Futures were arrested, Xinhua said in a separate report.
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