China set to appoint tough regulator as vice chairman

China’s securities regulator is poised to elevate its head of law enforcement, Li Ming, to the position of vice chairman. The move signals Beijing’s intensified focus on overseeing the country’s $5.1 trillion stock market.

Li, currently the chief of the China Securities Regulatory Commission’s (CSRC) enforcement bureau, will replace Fang Xinghai, who is set to retire. The appointment is expected to be formalised in the near future.

The change in leadership comes as President Xi Jinping prioritises the capital market’s role in supporting strategic sectors like chip manufacturing amid growing global competition.

Under Chairman Wu Qing, the CSRC has adopted a more stringent regulatory approach, emphasising “teeth and thorns” in market oversight.

Li has vowed to crack down on insider trading, market manipulation, and securities fraud. His career at the CSRC includes roles in the Listing Department and the National Equities Exchange.

Attribution: Reuters