New chief appointed for China Securities Regulatory Commission

The Communist Party of China Central Committee has decided to appoint Wu Qing as secretary of the Party Committee of the China Securities Regulatory Commission, the Xinhua News Agency reported late Wednesday.

Yi Huiman will be removed from the post of secretary of CSRC's Party committee, according to Xinhua, citing the CPC Central Committee's decision.

Meanwhile, the State Council, China's Cabinet, has decided to appoint Wu as CSRC's chairman while Yi will step down from the position, according to Xinhua.

Wu will thus become the 10th chairman of the CSRC, the country's top security watchdog founded in 1992.

Born in 1965, Wu started his career in January 1989. Before his work experiences in Shanghai since 2010, Wu worked at different CSRC departments, including those overseeing financial institutions, securities firms' risk management and funds.

In July 2023, Wu was appointed deputy secretary of the Shanghai Municipal Party committee.

The A-share market rose on Wednesday. The benchmark Shanghai Composite Index gained 1.44 percent while the Shenzhen Component Index spiked 2.93 percent. The technology-focused ChiNext in Shenzhen also jumped 2.37 percent. The total trading value at the Shanghai and Shenzhen bourses reached 1.03 trillion yuan ($140 billion), the first time exceeding the 1-trillion-yuan threshold in more than two months.

shijing@chinadaily.com.cn