(Yicai Global) March 12 -- Qiu Xiaohua, one of the well-known economists in China's securities market circles, will resign from his position after serving as chief economist at Minsheng Securities Co. for five years. Qiu, named "NetEase Most Popular Economist of the Year" in 2017, published a long letter today to announce his decision.

In his letter, Qiu expressed his gratitude to Chairman Lu Zhiqiang of China Oceanwide Holdings Group and Minsheng Securities for providing opportunity for in-depth learning and serving the society, through which he said he came into contact with and understood the capital market. However, he did not disclose his whereabouts and why he was resigning.

Qiu Xiaohua, who experienced a "roller coaster" in his career life, became the youngest spokesman of the National Bureau of Statistics, NBS, at the age of 35. At 48, he became the youngest director of the NBS since China's reform and opening up. However, he also happened to be the shortest-serving director of the NBS, as he was sentenced to two years of imprisonment for graft only seven months after taking office.

Qiu was released in the end of 2008 after serving about six months in jail. In June 2008, he appeared in China's financial sector again as a senior researcher of China National Offshore Oil Corporation, CNOOC. His latest decision to resign from Minsheng Securities adds another twist to his career life.