CSRC Chairman Defies Resignation Rumors
Dou Shicong
/SOURCE : yicai

(Yicai Global) Jan. 25 -- Liu Shiyu, chairman of the China Securities Regulatory Commission, did not deliver his resignation notice at a work meeting today, though many had expected he would.

Liu attended the regulatory conference in Beijing today and delivered his work report as normal, mentioning nothing of a possible resignation, an anonymous source at the meeting told Yicai Global.

Reports yesterday suggested that Yi Huiman, chairman of Industrial and Commercial Bank of China, had undergone a personnel investigation on Jan. 21 and was set to become the CSRC's next chairman. ICBC said they had no comment on the matter.

58-year-old Liu has been in charge of the securities watchdog since 2016, but many investors have been dissatisfied with is work, largely due to the huge losses suffered by the Shanghai and Shenzhen bourses last year. The Shanghai exchange lost 24.59 percent and the Shenzhen bourse fell by 34.42 percent throughout 2018.

Editor: James Boynton

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Keywords: CSRC , Liu Shiyu , ICBC