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China s ousting of its securities
watchdog head on Wednesday drew a muted cheer from markets, with
investors holding out for bigger measures that would tackle the
root of the malaise gripping the.
Yi Huiman was replaced as chairman of the China Securities Regulatory Commission, the CSRC, with Wu Qing, who has led the Shanghai Stock Exchange and served as a key deputy in Shanghai's municipal government. While no reason was given for Yi's removal, it came after China's stock market hit a five-year low on Monday and investors scrambled to cut their losses.