Ex-finance head in Shanghai to join CSRC
Print Edition
The former head of Shanghai’s financial office will soon be appointed vice chairman of the China Securities Regulatory Commission, Caixin magazine reported yesterday.
Fang Xinghai, with a doctorate degree in economics from Stanford University, will replace Liu Xinhua, who is due to retire. Fang will take charge of international business at the CSRC, the report said, citing unidentified sources.
In his new posting, Fang is widely expected to further explore feasibility for an international board on the Shanghai Stock Exchange that will allow foreign companies to list in China.
Fang currently works at a central government body that helps lead and supervises economic work for the State Council, China’s Cabinet.
From 2001 to 2013, Fang worked at the Shanghai Stock Exchange and the Shanghai Financial Services Office after stints in financial institutions such as the World Bank, China Construction Bank and Galaxy Securities.
While heading the financial office from 2007, Fang had guided the opening up of Shanghai’s financial market to turn the city into a global financial hub.
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