CSRC vice-chairman Fang Xinghai makes way for ex-head of regulator’s enforcement unit

Quick Summary:

The top bureaucrat has been replaced by Li Ming, 56, who sources believe has the leadership’s backing to weed out irregularities and shore up investor confidence.

Fang and Chinese President Xi Jinping briefly worked together in Shanghai when Xi was appointed the city’s Communist Party chief in 2007.

Li has headed the CSRC’s enforcement bureau responsible for policing the market and cracking down on illegal securities activities since 2022.

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Article Details

Author / Journalist: Daniel Ren

Category: Business

Markets: Hong KongChina

Topics: International Financial Capital Securities Vice-chairman Stock Csrc Fang Market Shanghai China

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 16:07:23 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 671 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21870501

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