PBoC Further Expands Influence into Securities Regulation

SCMP: China’s central bank expands influence at stock watchdog ahead of major shake-up
Another senior People’s Bank of China (PBOC) official has joined the top leadership at the country’s securities watchdog, signalling deepening central bank influence ahead of a shake-up of China’s widely criticised financial supervision regime.

Xuan Changneng, the chief of the central bank’s Financial Stability Bureau, has reportedly been appointed as an assistant chairman at the China Securities Regulatory Commission (CSRC). Xuan, who has a doctoral degree from the University of Texas at Austin and has worked for JP Morgan, would be the third senior official with experience at the PBOC to assume a top position at the CSRC since last year, as Beijing reshuffles the watchdog after a stock market rout last summer.

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