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China’s securities regulatory chief seeks approval to step down: Reuters
Wu Qing, appointed in Feb 2024 to stabilize markets, cites health reasons in resignation request, raising concerns over market confidence and reform continuity, sources said.
- Reuters reported that China’s securities watchdog chief Wu Qing has sought approval to step down as chairman of the China Securities Regulatory Commission, citing his health, though his resignation’s acceptance remains unknown.
- After Yi Huiman’s abrupt removal, regulators elevated Wu Qing last year to stabilise China’s stock markets near their weakest levels in five years.
- Known for a tough enforcement style, Wu Qing built a reputation within the China Securities Regulatory Commission, earning the nickname 'broker butcher' after a crackdown and leading the Shanghai Stock Exchange before joining the Communist Party Central Committee.
- Investors warned the move could unsettle markets, with Eugene Hsiao saying `The possible resignation of Wu Qing will be closely watched mostly to see if a dovish replacement is found` and Zhang adding `That could have a big impact on market confidence.`
- Policy continuity will rest on the next CSRC chair, who must balance reform and market stability as Chinese government efforts to foster a 'slow bull' fall on the new chairman and markets are up about 45% since Wu’s appointment.
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China’s securities regulatory chief seeks approval to step down, sources say
China's securities watchdog chief, Wu Qing, has sought approval to step down, sources with knowledge of the matter said, in what would be an abrupt and unexpected exit for a regulatory head brought in last year to stabilise the country’s stock markets.
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China's securities regulatory chief seeks approval to step down, sources say
China's securities watchdog chief, Wu Qing, has sought approval to step down, sources with knowledge of the matter said, in what would be an abrupt and unexpected exit for a regulatory head brought...
Coverage Details
Total News Sources8
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
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