Beijing has appointed Li Xiaohong, former chairman of brokerage China Securities, as chief of the China Securities Regulatory Commission's anti-graft body, replacing Li Xiaoxue, who steps down because he has passed the retirement age.
Li Xiaohong, 58, was named secretary of the CSRC's Discipline Inspection Committee, a vice-minister-level official after Li Xiaoxue, who is 63, was dismissed from the post, a statement from the regulator said.
The move heralds a new round of reshuffling, with the mainland's securities regulator under fire from millions of investors peeved over its reluctance to act to pump up the troubled market.
Vice-minister-level officials on the mainland normally retire at 60.
The appointment of Li Xiaohong is in line with speculation that CSRC chairman Shang Fulin, who is 60, will become chief of the mainland's banking regulator.
'It could be seen as a prelude to a major reshuffle within the CSRC,' Haitong Securities analyst Zhang Qi said. 'But investors may not be happy to see the changes, particularly now.'