A former Chinese university president has lost his seat in top legislature body after the college incurred huge losses on the stock market, local media reported.

The decision-making Standing Committee of the People''s Congress of the northern port city of Tianjin yesterday announced its decision to expel Shan Ping, 60, from the National People''s Congress.

Shan was "alleged to have made serious mistakes" during his term as president of Tianjin University and caused "great losses," Xinhua news agency quoted Tianjin''s deputy Communist Party boss, Liu Shengyu, as saying.

Shan was punished for a "serious breach of duty" and was under investigation by the party''s anti-corruption investigators.

Shan was replaced as Tianjin University president by Gong Ke, vice-president of the prestigious Tsinghua University in Beijing.

The Shanghai Securities News reported today that Shan had entrusted stockbrokers with 100 million yuan (US$12.5 million) of university money in recent years and prices of the chosen shares plunged.

The party will decide whether to strip Shan of his membership after two years'' probation, the newspaper said. -China Daily