China replaces Xiao as top securities regulator

He has been replaced by Liu Shiyu of Agricultural Bank of China for mishandling the country’s stock markets turmoil.

Julie Zhu

February 20, 2016

Agricultural Bank of China head Liu Shiyu has been appointed as the new chairman of the country’s securities watchdog, the official Xinhua News Agency announced on Saturday, replacing the embattled Xiao Gang, who has faced months of criticism for mishandling the country’s stock markets turmoil.

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