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CSRC's reshuffle ensures reforms

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The China Securities Regulatory Commission (CSRC) is to lose its Hong Kong adviser Michael Wu Wai-chung.

Meanwhile the securities watchdog's chief adviser Anthony Neoh, also from Hong Kong, will teach law for a year at Harvard University in the US, beginning in September.

Although Mr Neoh said the visiting professor position at Harvard would not affect his role as chief adviser, it will take away from the time he will have available to be in Beijing.

He yesterday denied his teaching role or Mr Wu's plans to leave at the end of next month were related to Laura Cha Shih May-lung's recent appointment as CSRC vice-chairman.

He said Mr Wu quit the CSRC to spend more time with his family in Australia.

Mr Wu's departure and Mr Neoh's diminishing CSRC role is coincidental with Mrs Cha's appointment from mid-March.

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