China removes head regulator 22 February 2016Beijing Reporter: Drew Nicol
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The head of the China Securities Regulatory Commission (CSRC), Xiao Gang, was replaced on 20 February, according to multiple sources.
Liu Shiyu, chairman of Agricultural Bank of China, will take on the role in a bid to stabilise what has been a rocky start to 2016 for China’s economy.
Gang, who became chairman of the CSRC in 2013, was behind the controversial circuit breakers on the stock market in January and was criticised heavily during last year’s market turmoil in Asia.
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