A Chinese investor watches a screen showing share prices at a securities brokerage in Beijing. The decision to replace Xiao Gang follows a failed gamble last month on a circuit breaker that led to extreme market volatility. Photo: EPA
A Chinese investor watches a screen showing share prices at a securities brokerage in Beijing. The decision to replace Xiao Gang follows a failed gamble last month on a circuit breaker that led to extreme market volatility. Photo: EPA

new | Bank chief made head of China's securities regulator after months of turmoil in stock markets

Xiao Gang to step down as investors still spooked by botched introduction of ‘market-calming’ mechanism last month; Liu Shiyu, chairman at the Agricultural Bank of China, named as new chief of CSRC

A Chinese investor watches a screen showing share prices at a securities brokerage in Beijing. The decision to replace Xiao Gang follows a failed gamble last month on a circuit breaker that led to extreme market volatility. Photo: EPA
A Chinese investor watches a screen showing share prices at a securities brokerage in Beijing. The decision to replace Xiao Gang follows a failed gamble last month on a circuit breaker that led to extreme market volatility. Photo: EPA
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