China to replace securities regulator head – state media


BEIJING: China will replace the head of its securities regulator, state media reported Saturday, as the country struggles to reassure global investors that it can effectively manage stock markets that have experienced massive turmoil. Xiao Gang, who was in charge during last year’s crash, will be “dismissed” from his post at the China Securities Regulatory Commission and replaced by Liu Shiyu, chairman of the Agricultural Bank of China, the official Xinhua news agency said.


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