在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

Top financial officials changed in major reshuffle

Updated: 2011-10-31 09:15

By Hu Yuanyuan (China Daily)

  Comments() Print Mail Large Medium  Small 分享按鈕 0

 

Top financial officials changed in major reshuffle

Top financial officials changed in major reshuffle

Top financial officials changed in major reshuffle

Shang Fulin, chairman of the China Banking Regulatory Commission

Guo Shuqing,?chairman of the China Securities Regulatory Commission 

Xiang Junbo, chairman of the China?Insurance Regulatory Commission 


Retirement age key reason for senior figures leaving office

BEIJING - New banking, securities and insurance regulators have been appointed in the biggest reshuffle of financial officials for almost a decade.

Shang Fulin, 59, former chairman of the China Securities Regulatory Commission (CSRC), replaces Liu Mingkang, 65, as chairman of the China Banking Regulatory Commission, according to the Xinhua News Agency which quoted an unidentified spokesman with the Communist Party of China (CPC) Central Committee's Organization Department as saying on Saturday.

Guo Shuqing, 55, former board chairman of the China Construction Bank (CCB) and a former head of the State Administration of Foreign Exchange (SAFE), takes over from Shang as securities regulator.

In addition, Xiang Junbo, 54, the former board chairman at the Agricultural Bank of China (ABC), replaced Wu Dingfu, 65, as chairman of the China Insurance Regulatory Commission (CIRC).

The CCB and the ABC are among the country's four largest State-owned banks.

Age was the key factor behind the reshuffle, analysts said. Both Liu and Wu have reached the compulsory retirement age of 65 for senior government officials.

Guo, a former academic known for his down-to-earth demeanor, will find his new role at the China Securities Regulatory Commission gives him with an opportunity to put his knowledge of global finance to good use for the benefit of the capital markets.

Guo has taken some crucial decisions over a three-decade career, including asking CCB shareholders last year to cough up billions to recapitalize the bank after a State-led lending binge in 2009 to prop up China's economy during the global downturn.

"Guo is a politician who also has a profound understanding of the global economy," a CCB source, requesting anonymity, said. "He may not be familiar with every aspect of the banking business, but he has a long-term vision that has placed customer-service at the core."

The philosophy major and Oxford-educated scholar, who speaks English fluently, has moved easily between academia, government and a rapidly growing commercial sector that has helped China become the world's second-biggest economy.

Guo, a native of the Inner Mongolia autonomous region, says he washes up the dishes at home most days.

"I don't want to use a dishwasher and waste water or electricity," he said in an interview with Reuters.

A pragmatist, Guo studied for a master's degree in Marxist and Leninist theory, writing a thesis entitled "Thoughts About Certain Fundamental Problems in China's Economy" that cautioned of grave risks in using Western macro-economics theories in a China which had just begun to embrace reform.

The new securities regulator has published several books on China's economy, including one co-authored with Zhou Xiaochuan, head of the central bank.

His ascent through the ranks of the financial elite saw him serve as vice-governor of inland Guizhou province, and later as chairman of the country's foreign exchange regulator, the State Administration of Foreign Exchange from 2001 to 2005.

Guo came in for criticism while at SAFE for using taxpayers' money to bail out the major lenders in an attempt to make them more market-oriented.

He joined CCB, which counts Bank of America as a strategic shareholder, as chairman in 2005 after SAFE's $22.5 billion bailout left the agency as the bank's largest shareholder.

Seven months after Guo took over, CCB sold shares publicly for the first time in Hong Kong and two years later in Shanghai, making it the first State-owned Chinese lender to float shares in both bourses.

China's financial markets have achieved impressive growth in recent years. The country overcame a $650 billion bailout of State-owned banks and a five-year bear market to become home to the world's two biggest lenders and the third-largest stock market by value.

"China's financial industries have seen tremendous changes and the new regulators are facing a much better starting point than 10 years ago, when the banks were seen as technically insolvent and the stock market was chaotic," Bloomberg cited May Yan, a Hong Kong-based analyst at Barclays Capital as saying before the announcement.

Shang became chairman of the CSRC in December 2002. Prior to that, he served from 2000 to 2002 as president of the ABC and was a deputy governor at the central bank from 1994 to 1996.

Liu became head of the banking regulatory commission in March 2003, and Wu was appointed head of the CIRC in November 2002.

Xiang was a State auditor and deputy central bank governor before joining the ABC in 2007 to lead the restructuring. An initial public offering three years later raised $22.1 billion in the world's largest first-time sale.

Bloomberg and Reuters contributed to this story.

主站蜘蛛池模板: 清清草视频 | 国产中文字幕在线播放 | 天堂成人av| 在线观看福利影院 | 98国产精品 | 婷婷六月综合 | 国产黄色一区 | 亚洲在线观看视频 | 综合99 | 国产91免费视频 | 嫩草嫩草嫩草嫩草 | 激情视频小说 | 国产精品毛片av | 国产高清91 | 久久激情综合 | 中文字幕在线观看免费视频 | 99一区二区 | 成人av免费看 | 93久久精品日日躁夜夜躁欧美 | 黄色三级小说 | 国产日韩欧美一区 | 国产自产21区 | 久久久久国产视频 | 久久久久久久国产精品 | 91欧美激情一区二区三区成人 | 欧美久久久久久久久久 | 夜夜嗨av一区二区三区网页 | 亚洲资源在线观看 | 国精产品99永久一区一区 | 免费一级黄色片 | www国产在线观看 | 日韩专区中文字幕 | 成人在线国产 | 18精品爽国产白嫩精品 | 在线一区二区三区四区 | 伊人国产女 | 日韩精品少妇 | 视频一区二区三区在线观看 | 可以免费看的av | 一区二区免费视频 | 国产精品1区 |