(Yicai) Aug. 29 -- The former deputy general manager and chairman of the investment banking committee of China's largest securities firm Haitong Securities was arrested on suspicion of serious work-related crimes.

Jiang Chengjun, who has worked at Shanghai-based Haitong since 2000, was extradited to China after fleeing the country last month, the Central Commission for Discipline Inspection announced yesterday.

The Shanghai branch of the supervisory watchdog opened an investigation against Jiang this month and sought international law enforcement cooperation for his arrest.

China has stepped up efforts to combat bribery and other duty-related crimes over the past two years. The country's courts concluded 24,000 such cases last year, up 20 percent from a year earlier, according to the Supreme People's Court.

Jiang penned 10 initial public offerings as a sponsor representative from August 2008 to September 2020, with Haitong receiving CNY610 million (USD85.6 million) in underwriting and sponsorship fees as lead underwriter, Yicai learned.

Of the 10 companies, Advanced Micro-Fabrication Equipment had the highest market capitalization of CNY80.3 billion (USD11.3 billion) as of the end of trading yesterday, while that of COFCO Capital, Daimay Automotive Interior, and iRay Technology all exceeded CNY10 billion.

Haitong reported its first net loss since 2000 last year. Its shares [SHE: 600837] fell 1.9 percent to CNY8.50 (USD1.20) as of 2.35 p.m. in Shenzhen today, after shedding 6.5 percent yesterday.

Editor: Martin Kadiev