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.
- Missing Airplane
- Lianghui Quotes: March 10
- Expert Blames Unrealistic Expectations, Poor Policing for Attacks on Doctors
- Closer Look: NPC Meeting Makes Progress on Tax, Budget Fronts
- Closer Look: Relatives of Passengers on Missing Flight Have Long Wait, Few Answers
- The Avoidance of Labor and the Work of Art
- Hidden Anguish
- In Friday's Papers: IBM Workers Strike over Lenovo Deal; Ordos Will Stop Building Homes, Mayor Says
- A French Revolution, Please!
- Lianghui Quotes：March 7
- Sign up to receive our free daily newsletter
- Eyes on the Prize
- Zhou Family Was Influential in Jiangsu City before Corruption Inquiry
- The Logic of the Left in China
- Jilted U.S. Investors and Debtors on the Run
- Yuan Won't Overtake Dollar until Changes Are Made, Economist Says
- Caixin Explains: The 'Lianghui' Meetings
- U.S. Economy, Regulatory Approach Reaching Higher Ground, Policy Veteran Volcker Says
- China to Grow at 7.5 Pct and Focus on Reforms, Premier Says
- Gary Locke Expresses Optimism for Future of Sino-U.S. Ties
- Caixin Explains: What Is Yu E Bao and Why Is It in the News?