CSRC chairman Guo Shuqing stepped down last week. It is
unclear why Guo, a dynamic reformer, left and whether his
successor will continue his policies
Chinas once-in-a-decade power transition was completed
last week during the National Peoples Congress (NPC). The
ceremony created few surprises as 3,000 deputies gathered to
cast votes for Xi Jinping, who replaced Hu Jintao as president
and Li Keqiang, who replaced Wen Jiabao as premier.
After the closing of the NPC, the countrys top
regulator, the China Securities Regulatory Commission,
announced that Guo Shuqing would step down as chairman and be
replaced by Xiao Gang, chairman of the Bank of China.
Guo enacted many more regulations during his term than
any of his predecessors, which helped to enhance transparency
of the administration of the capital markets. He also
strengthened the punishment for insider trading and issuer and