The managing director of a subsidiary at Aviation Industry Corp of China, Yang Shengjun, has lost his job for illicitly selling stocks of another subsidiary. Earlier,Lin Zuoming, Chairman of AVIC was among the first senior Chinese officials to declare he would defend the country's stock market from "malicious foreign short-sellers". In a strongly worded commentary published in state-run Global Times last week, Lin swore to help the market get back on its feet by beefing up share purchases in what he called a stock market war "targeted at the Chinese flag". "Need I say who the enemy is?" he wrote rhetorically. "Our commitment to prop up the market is ironclad. We want to show small investors we are their diehard ally". The China Securities Regulatory Commission is also investigating Avic Heibao, Avic Jincheng Group and Avic Investment Holdings for reducing stakes in breach of rules.