China replaces bonds regulator

Liu Shiyu, new authority of a China Securities Regulatory Commission (file photo)Image copyright

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Liu Shiyu (file photo) took over in a post

China has private a conduct of a bonds regulator as a nation tries to tackle vital sensitivity in a batch markets.

Xiao Gang was transposed by Liu Shiyu as a authority of a China Securities Regulatory Commission (CSRC), state media report.

Mr Xiao was in assign when China’s bourses crashed in mid-2015.

At one indicate a Shanghai and Shenzhen batch exchanges mislaid as most as 40% of their value.

In January, China dangling a new “circuit-breaker” mechanism, that was designed to stop free-falling prices.

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Xiao Gang is seen here during a forum in Hong Kong final year

But instead of relaxing investors a circuit-breaker caused them to panic, heading to a batch marketplace shutting down twice in a space of one week final month.

Mr Liu until now was a authority of a Agricultural Bank of China – one of a country’s tip 4 banks.

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