Here’s how Chinese stocks have performed during the tenures of various CSRC chiefs
- Yi Huiman, 54, the former chairman of ICBC, has taken over as the ninth chairman of the CSRC. It remains to be seen if the stock markets will do better under his leadership than they did than under his predecessor Liu Shiyu
In an unexpected move over the weekend, the State Council named a new chairman of the China Securities Regulatory Commission – its ninth overall – to oversee the world’s third-largest stock market.
Yi Huiman, 54, the former chairman of Industrial and Commercial Bank of China, takes over from Liu Shiyu, who was in the post for nearly three years.
The most uphill task facing Yi, who rose all the way to the top at ICBC, will be to restore confidence in what was the world’s worst-performing equity market in 2018.
He would also need to kick start a technology board in Shanghai this year, a plan unveiled by President Xi Jinping to develop the nation’s unicorn companies, loosen restrictions on derivatives to attract institutional investors and further open up Chinese stocks to the outside world and integrate them with the global markets.
Here’s how the benchmark Shanghai Composite Index performed during the terms of each of the CSRC chairmen:
Liu Shiyu
February 2016 to January 2019