Lin Qiang, the 39-year-old founder and CEO of Shanghai HHSC Capital Management Co. Ltd., was arrested by Indonesian authorities in Bali on October 1, 2024. His firm, which collapsed in October 2023, left a significant financial deficit of $4.15 billion, impacting numerous investors. Lin has since been handed over to Interpol. In a related development, He Wenzhong, former deputy general manager of the state-owned China Electronic Technology Group Corporation, was expelled from the Communist Party of China (CPC) and removed from his public office. Additionally, Li Quan, the former chairman of New China Life Insurance Co. Ltd., has been arrested for suspected embezzlement and bribery, highlighting ongoing anti-corruption efforts within China's financial sector. A prominent missile scientist was also expelled from a top advisory body amid the same campaign, which has particularly affected the People's Liberation Army Rocket Force.