Despite Personnel Change at CSRC, Reforms Must Proceed
With his departure as chairman of the China Securities Regulatory Commission, Guo Shuqing became the agency's most short-lived chief. We don't know how he felt, but the stock market swing on March 18, the day Xiao Gang took office, suggested that investors were not yet sure what to expect of Guo's successor.
Guo's departure after 17 months in office is not good news for a securities market in need of overhaul. The various schemes he launched were aimed at long-term market reform, and their effects can only be felt after a few years of implementation. To be sure, the deregulation of the stock market and funds must continue to prevent a return of the old ills; efforts to securitize bonds and assets will come to a dead end if they are put on hold now; and the "zero tolerance" audit policy, especially, must be fully backed, for there can be no U-turn.
- What is Authoritarianism?
- Chinese Comfort Women: Testimonies from Imperial Japan's Sex Slaves
- The Dog
- Zuckerberg Impresses Tsinghua Students with His Chinese, Even Talks Tech
- Rise and Fall of a Coal Boomtown in Shanxi Province
- Despite Ban, County Holds Convict Parade Days before Rule of Law Plenum
- Paris Expatriate
- Loft Horizon
- Fourth Plenum
- Which Way for Smartphone Swipe and Pay?
- Sign up to receive our free daily newsletter
- The Yellow Pearls of China: Women with a PhD
- Graphics: Ghost Towns
- China Nears Deal with Mexico to Export Bullet Trains for First Time
- Researchers Cast Doubt on State Council Goals to Cut Air Pollution
- Graphics: The Fourth Plenum
- Huge Vale Ship Arrived in Qingdao with 300,000 Tons of Iron Ore
- The Golden Lands: Cambodia, Indonesia, Laos, Myanmar, Thailand & Vietnam
- Alibaba Shopping Site Red-Faced after Number of Phone Orders Faked
- Silver Screen Industry Strikes Investor Gold
- Is There Trouble in Sino-Russian Paradise?