www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

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: 婷婷91| 精品一区二区影院在线 | 免费黄色网址在线播放 | 亚洲乱淫| 丝袜足液精子免费视频 | 在线免费观看毛片网站 | 欧美精品久久天天躁 | 香蕉视频黄色在线观看 | 99精品欧美一区二区三区 | 国产日韩欧美在线一二三四 | 天天澡夜夜澡狠狠澡 | 久久中文字幕久久久久 | 情侣偷偷看的羞羞视频网站 | 全部在线美女网站免费观看 | 538在线视频二三区视视频 | 国产成年女一区二区三区 | 久久在线国产 | 欧美午夜视频一区二区 | 99在线视频网站 | 欧美色成人综合 | 一级做a爱久久久久久久 | 国产精品极品 | 日本不卡在线一区二区三区视频 | 国产成人精品免费视频软件 | 成人亚洲欧美日韩中文字幕 | 国产精品综合一区二区三区 | 99久久国产综合精品1尤物 | 欧美最爽乱淫视频播放黑人 | 99在线精品视频 | 欧美午夜精品久久久久久黑人 | 久久成人免费播放网站 | 草视频在线观看 | 精品国产一级毛片 | 久久久精品免费热线观看 | 岬奈一区二区中文字幕 | 国产成人一区二区三区精品久久 | 欧美一级性 | 视频偷拍一级视频在线观看 | 久久久久久久久免费影院 | 久久亚洲国产精品一区二区 | 欧美一区二区视频在线观看 |