Give the CSRC’s new chairman a real say
Liu Shiyu, the new head of the China Securities Regulatory Commission, will not fare better than his predecessor if his political masters keep him on too tight a leash.
The departure this week of China's top securities regulator, Xiao Gang, leaves his successor, Liu Shiyu, with the difficult task of restoring investor confidence in mainland markets. The 2015 government intervention in the stock market makes this hard, but Liu is even less likely to improve the communication and transparency in decision-making that investors want to see. His boss, after all, is Communist Party Secretary Xi Jinping.
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