xi's moments
Home | Finance

Securities regulator gets new chairman

Appointment: New chief known for previous experience at CSRC

By SHI JING in Shanghai | chinadaily.com.cn | Updated: 2024-02-07 22:18

A view shows the China Securities Regulatory Commission in Beijing on March 10. [YU ZHIQIANG/FOR CHINA DAILY]

The Communist Party of China Central Committee appointed Wu Qing as Party secretary of the China Securities Regulatory Commission, replacing Yi Huiman, Xinhua News Agency reported late on Wednesday.

Meanwhile, the State Council, China's Cabinet, appointed Wu as chairman of the CSRC, replacing Yi, according to Xinhua.

Wu is the 10th chairman of the CSRC, the country's top securities watchdog, which was founded in 1992.

Wu, who was born in 1965, started working in 1989 and was appointed deputy head of Shanghai's Hongkou district in November 2010. He then worked for more than a decade in the city.

Between May 2016 and February 2022, Wu served as chairman of the Shanghai Stock Exchange, Shanghai's vice-mayor and head of the administrative committee of the Zhangjiang High-tech Industrial Development Zone.

In July 2023, he was appointed deputy Party secretary of Shanghai.

Prior to his experiences in Shanghai, Wu worked at different CSRC departments, including those overseeing financial institutions, securities companies' risk management and funds. During his previous term of office at the CSRC, Wu was known for dealing with violations by securities companies and cracking down on mutual fund companies' "rat trading" — a kind of insider trading in which fund managers use private information for personal gain.

In 2009, Wu wrote in an industry journal that the fundamental purpose of financial supervision is to protect legitimate rights and interests of customers while safeguarding the security of the financial system.

The A-share market continued to rebound on Wednesday. The benchmark Shanghai Composite Index gained 1.44 percent while the Shen­zhen Component Index spiked 2.93 percent.

Global Edition
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349