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First overseas professional takes up post at vice-ministerial level

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Laura Cha Shih May-lung will become the first overseas professional to join the mainland's bureaucracy as vice-chairman of its securities watchdog.

In the middle of next month, she begins working with the China Securities Regulatory Commission (CSRC) in Beijing after she resigns on February 28 from her post as deputy chairman and executive director of Hong Kong's Securities and Futures Commission.

Mrs Cha, born in Shanghai, moved to Hong Kong at the age of two and became a Hong Kong citizen.

She later migrated to the United States but gave up her US passport late last year when she decided to take the job with the CSRC.

'I am an SAR passport holder,' she said.

Mrs Cha had to renounce her US citizenship because a senior mainland civil servant, with the rank of a vice-minister, cannot be an overseas passport holder.

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