New CSRC chairman to follow reform roadmap

Former Bank of China chief Xiao Gang has been chosen to replace Guo Shuqing as chairman of the nation’s securities regulator CSRC. It forms part of a reshuffle of senior finance figures carried out on the back of China’s political transition to new Communist Party leadership under president Xi Jinping. The CSRC had initially said it had no information when Guo’s pending departure was reported in local media last week, although the news was eventually confirmed this weekend. Be…