According an official announcement released recently， Zhang Dongsheng， former Finance Division Director of National Development and Reform Commission （henceforth referred to as NDRC）， was placed under investigation for suspected corruption related to the corporate debt issued in 2005.

Informant says that Zhang Dongsheng was given away by Sun Mingxia， who was the former president of Fixed Income Division at Guosen Securities and also under investigation.

Public profile shows that Zhang Dongsheng joined the State Planning Commission in 1982 and got promoted to the position of Deputy Director of NDRC Finance Division.

In 1998 he was transferred to NDRCs Economic Coordination Department and served as the Deputy and Chief successively. In 2003 he was transferred back to the Finance Division and acted as the Director. In July 2006， he started to hold the post of the Director of NDRCs Employment and Income Distribution Division.

From 2003 to 2006， the Finance Division under Zhang Dongshengs charge went through a“golden age” of corporate bond issuance. It was the key authority for the corporate bond examination and approval till May 2005 when the central government for the first time launched other short term financing products， such as financing bills.