T
HE JOB of China’s top securities cop is a precarious one. Its fortunes are closely linked with the vagaries of the country’s stockmarket. A crash can mean the sack or worse for the man in charge. Xiao Gang, who headed the China Securities Regulatory Commission (
CSRC) during the spectacular boom and bust of 2015, was fired and has become an object of scorn among investors. Liu Shiyu, who took over from Mr Xiao and saw China rank among the world’s worst-performing markets in 2018, later faced corruption charges (which might have been overlooked had the market done better). As China’s
Feng Li Getty Images
Newly appointed People’s Bank of China Governor Zhou Xiaochuan, middle, poses for souvenir photos with delegates during the sixth plenary meeting of the National People’s Congress at the Great Hall of the People on March 16, 2013.
New Hands Take the Financial Regulation Wheel
April 1, 2013
By Caixin staff reporter Ling Huawei
Who’s steering China’s carefully managed financial system? Speculators were busy name-guessing before and for several months after the Communist Party’s 18
th National Congress in November.
Finally, the dust started to settle with formal appointments announced a few days after the National People’s Congress session concluded in March. Additional appointments to regulatory and state-bank posts were expected soon.
Former Chairman of China Development Bank Sentenced to Life in Prison for Graft
A Chinese court has sentenced Hu Huaibang, the former chairman of China Development Bank (CDB), to life in prison on bribery-related crimes. He is the second high-profile financial executive to be sentenced this week.
The Intermediate People’s Court of Chengde city, in China’s Hebei Province, handed down the sentence on Jan. 7. Hu’s personal property will also be confiscated by authorities.
Hu, who was arrested last February, was convicted of receiving bribes totaling 85.52 million yuan ($13.24 million) between 2009 and 2019, the court said in a statement on its official WeChat account. Hu is accused of giving preferential treatment to businesses and individuals in the form of bank loans, business operations, and job promotions in exchange for bribes.
By GlobalCapital
18 Dec 2020
In the final part of GlobalCapital China’s awards announcements, we reveal the year’s key innovation – and the individual who has made the greatest contribution to reforming and internationalising the onshore market.
MOST IMPRESSIVE MARKET INNOVATION
Coronavirus-prevention bonds
This year will go down in history for fundamentally changing the way people live and work, at least temporarily.
It was the year that international relations, healthcare systems, trust in governments and social bonds were tested. It will be the year to see the deepest global economic recession since the Second World War, and a year marked by extreme swings in the bond, commodity and stock markets globally.
Gaming levels up with historic Asiad inclusion By SHI FUTIAN | China Daily | Updated: 2020-12-18 08:55 Share CLOSE
Hangzhou 2022 ratifies e-sports as medal event as Games go digital
The official ratification of e-sports as a medal event for the 2022 Asian Games in Hangzhou on Wednesday has been hailed as a milestone in both gaming and sporting history.
The inclusion completes a process to add e-sports to the lineup that began in 2017. The street-dance discipline of breaking will also debut on the Asiad s official event program after a proposal by Hangzhou s local organizing committee was approved by the Olympic Council of Asia (OCA) at its General Assembly, held in Muscat, Oman, and online on Wednesday.