Ex-CSRC head leads CBRC now
Print Edition
GUO Shuqing, former governor of Shandong Province, has been appointed as the chairman of the China Banking Regulatory Commission, the regulator said on its website yesterday.
Guo, who used to be head of the China Securities Regulatory Commission and chairman of China Construction Bank, replaced 65-year-old Shang Fulin, who has reached the retirement age.
Guo, 60, will hold a press conference today, according to the State Council’s information office.
Market observers expect him to speak on his plan dealing with issues such as banks’ rising bad debts and shadow funding practices.
The People’s Bank of China and the country’s securities and insurance regulators are drawing up measures to contain risks in the regulatory “no man’s land.”
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