Xiao Gang

Li at crossroads in the fight for economic changes

Premier Li Keqiang

Premier Li Keqiang may want to be seen as a dedicated economic reformer, but political squabbling among his subordinates and lingering resistance to pro-market policies limit the likelihood he can deliver real change, government insiders say.

Monday, 28 October, 2013, 7:56am 1 comment

Securities regulator calls for policies to protect small investors

Retail investors suffer from inadequate information disclosure by listed companies, said CSRC chief Xiao Gang. Photo: Reuters

China should implement more policies to protect retail stock investors to ensure the healthy development of the country’s capital market, the head of the securities regulator said on Wednesday.

16 Oct 2013 - 2:32pm

China mutuals told to buy more stocks to boost market

The increase in minimum holdings by stock-focused funds came is being seen as sign of Xiao's determination to underpin the mainland stock market. Photo: Reuters

The mainland's securities regulator is ratcheting up pressure on mutual funds to increase equity purchases after the key stock market indicator lost nearly 3 per cent this week. The move was seen as the first substantial step by the newly appointed chief regulator, Xiao Gang, to support the beleaguered stock market since he took office five weeks ago.

27 Apr 2013 - 5:56am

Reshuffle paves way for new BOC chief

Bank of China (BOC), the mainland's largest foreign-exchange lender, will soon have a new chairman, following the appointment of Tian Guoli as party secretary on Monday.

29 Aug 2013 - 4:13am

China's new securities regulator must continue on path of market reform

Guo Shuqing. Photo: Reuters

Guo Shuqing's departure after 17 months in office at the China Securities Regulatory Commission 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.

28 Mar 2013 - 3:30am

Shanghai stocks swing as Xiao Gang takes over top CSRC job

Millions of investors have regarded former CSRC chief Guo Shuqing as a white knight after he implemented reforms that rescued them from heavy losses. Photo: AP

Mainland equity investors initially appeared unimpressed with the appointment of Xiao Gang as the chairman of the China Securities Regulatory Commission. When he took office on Monday, the Shanghai market fell 1.68 per cent. But the market rebounded 0.78 per cent and 2.66 per cent in the next two days.

21 Mar 2013 - 5:34am

Bank of China loses chairman, gains regulatory ally

Bank of China announced that its chairman Xiao Gang had resigned for unexplained reasons. Photo: Reuters

Bank of China announced that its chairman Xiao Gang had resigned for unexplained reasons. Simultaneously, Chinese media reported that Xiao had been named as the new head of China's securities regulator, the China Securities Regulatory Commission or CSRC. 

18 Mar 2013 - 5:45pm

Bank of China chief Xiao Gang is to head securities watchdog

Xiao Gang was applauded for his outspoken style after the recent scandals involving wealth management products.Photo: SCMP Pictures

Beijing has picked the chairman of the Bank of China, Xiao Gang, to replace Guo Shuqing as head of the mainland's securities regulator, at a time when massive reforms are being undertaken to revive the stock market.

BOC said in a statement late last night that Xiao had resigned.

29 Aug 2013 - 4:13am

In tackling shadow banking, China needs to pick a small target first

The Zhongshan Square Branch of Huaxia Bank in Shenyang, Liaoning Province. Photo: SCMP

China’s “shadow banks” have been one of the hottest topics in the financial press lately. Bank of China chairman Xiao Gang, who according to recent rumours would likely take over as China’s top banking regulator soon, has called for tighter regulation. Central bank governor Zhou Xiaochuan has also expressed his concern.

29 Jan 2013 - 8:57am

Tough tasks await next PBOC head

The next governor of the People's Bank of China is expected to implement a number of radical financial reforms. Photo: Reuters

The next governor of the People's Bank of China is likely to have got there by first becoming the head of one of the country's big state-owned lenders. His initial task? To curb the power of those very banks.

30 Nov 2012 - 3:35am

Markets keen to know names of men who will be in charge of economy

Zhou Xiaochuan, governor of the People's Bank of China

Markets are watching a handful of experienced bankers whose ascent though the party ranks this week makes them likely candidates for top jobs managing the world's second-largest economy for the next five years.

16 Nov 2012 - 2:30pm

Bank of China turns focus to life insurance market

BOC lured towards more income, larger revenue streams

The Bank of China has set its sights on the mainland's lucrative life insurance market, with a possible eye towards acquisitions as a way to increase income and expand its revenue streams, according to chairman Xiao Gang.

14 Dec 2007 - 12:00am

Banking on bonds

Bank of China, the mainland's second-largest lender, said it had about one trillion yuan invested in yuan bonds that could benefit from a rebound in interest rates, a factor that would support double-digit earnings growth this year.

24 May 2007 - 12:00am

PBOC completes network

Beijing's central People's Bank of China has set up a new regional branch in Nanjing, the last of its nine such branches created in a financial overhaul, Xinhua said.

19 Dec 1998 - 12:00am

Regional regulators map out alternative routes to riches and debt

Hainan Development Bank, before its closure for insolvency in August, repeatedly tried to set up a branch in Shanghai. Its attempts were rebuffed by the People's Bank of China (Shanghai).

A Zhengzhou company that ran a pyramid scheme also tried to get the banking regulator's approval to open an outfit here.

23 Oct 1998 - 12:00am

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