CSRC’s Shang takes over from Liu at CBRC; industry veterans selected to head CSRC and CIRC

Liu Mingkang: stepping down from CBRC

China’s official news agency, Xinhua, announced on October 29 that retiring head of the China Banking Regulatory Commission (CBRC), Liu Mingkang, is being replaced by the former head of the China Securities Regulatory Commission (CSRC), Shang Fulin. Meanwhile, Guo Shuqing, former chairman of China’s second-largest bank, China Construction Bank, will take on Shang’s old role at the helm of the CSRC.

Former chairman of Agricultural Bank of China (ABC), Xiang Junbo, will take over as head of the Ch