Securities reformer Guo to lead bank watchdog

Former chairman of China's CSRC returns to financial regulatory work after spell as a provincial administrator.

China's banking regulator will today appoint Guo Shuqing, governor and deputy party secretary of the Shandong province in eastern China, as its new head, FinanceAsia understands.

He replaces Shang Fulin, who has led the China Banking Regulatory Commission CBRC for more than five years but has now reached the age of 65, the retirement age for Chinese officials.

The appointment of Guo, a veteran financial regulator who was an outspoken head of the country's securities regulator, was first reported by Chinese financial media outlet Caixin on Thursday, citing sources familiar with the matter. The report was swiftly removed.

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