Veteran regulator and market reformer Xu Ming picked as Beijing Stock Exchange boss

The academic-turned-regulator worked at the Shanghai Stock Exchange for seven years before joining the New Third Board

Beijing Stock Exchange is China’s first new bourse since the establishment of the Shanghai Stock Exchange and Shenzhen Stock Exchange in 1990

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Xu Ming, the man picked by Beijing as the first chairman of the new stock exchange in the capital of China. Photo: WEIBIO

Published: 7:02pm, 6 Sep 2021Updated: 9:59pm, 6 Sep 2021

Xu Ming, the man picked by Beijing to head the new stock exchange in the Chinese capital, is an academic-turned-regulator with a solid track record of reforming markets.

Xu has wasted no time in getting down to work. Less than 24 hours after President Xi Jinping’s surprise announcement on Thursday night of plans for a new bourse to provide fundraising channels for small and medium-sized enterprises (SMEs), Beijing Stock Exchange completed its inception and business registration.

According to the registration document, National Equities Exchange and Quotations (NEEQ) is the only shareholder of Beijing Stock Exchange, which has a registered capital of 1 billion yuan (US$154.96 million) and Xu as its legal representative and chairman.

After getting a master's degree from the East China University of Political Science and Law in Shanghai and a doctorate in law from the Renmin University of China Law School in Beijing, Xu worked at the China Securities Regulatory Commission (CSRC) for more than a decade before moving to the Shanghai Stock Exchange. There he worked for seven years until he left his role as deputy general manager in 2016, according to mainland media reports.

Xu then took the role of general manager at the China Securities Investor Service Center, an affiliate of the CSRC.

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