A former head of China’s equities market regulator will face trial on allegations that he took vast sums in bribes in return for approving company listings and loans, according to the Communist Party’s top anti-graft watchdog.

Yi Huiman, former chairman of the China Securities Regulatory Commission (CSRC), allegedly used “his position to seek benefits for others in job promotions, listing approvals and obtaining loans, and illegally accepted huge amounts of bribes”, the Central Commission for...