New CSRC vice chairman reform-minded
Print Edition
THE new vice chairman of the China Securities Regulatory Commission is reform-minded and expected to boost international business at the CSRC.
Fang Xinghai, former head of Shanghai’s financial office, has been appointed to the position.
Fang replaced Liu Xinhua, who is set to retire, and will be responsible for international business at the CSRC. It’s widely expected that Fang, a reform-minded financial industry veteran, will catalyze radical changes in China’s capital market.
Fang was the major driver behind Shanghai’s ambition to become a global financial center when he served as the director of the Shanghai Financial Service Office between 2007 and 2013.
Fang, a doctorate degree holder in economics from Stanford University, is the second newly appointed vice chairman of the CSRC since a stock market rout started in June. Last month, Li Chao, former vice director of the State Administration for Foreign Exchange, succeeded the retired Zhuang Xinyi as vice chairman of the CSRC.
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