Mainland banking and securities officials yesterday reacted calmly to expected changes at the top of the People's Bank of China (PBOC) and the China Securities Regulatory Commission (CSRC).
The South China Morning Post yesterday reported that governor Dai Xianglong would soon step down from his eight-year rein, with CSRC chairman Zhou Xiaochuan likely to take over as his successor, pending an official announcement. Mr Dai is expected to become mayor of Tianjin.
Yan Haiwang, a deputy PBOC governor, is another likely contender for the job.
Mainland-based bankers and securities analysts yesterday said the impact of Mr Dai's departure would be limited because important decisions in the mainland's banking and securities sectors would remain at the office of Premier Zhu Rongji and, in future, at the office of current Vice-Premier Wen Jiabao.
However, Yao Xinmin, a Shanghai-based fund manager, said: 'The capability of the new CSRC chief to be able to come up with thoughtful proposals - and in a presentable manner - will surely help him argue his case better with top leaders.'
Analysts yesterday favoured Mr Zhou over Mr Yan to become the new PBOC chief. They believe Mr Zhou could be the right person to help kick-start China's all-important banking and financial reforms ahead of full-blown competition with foreign financial institutions by 2006.
In Hong Kong, analysts are watching closely for the impending regulatory appointments.