Chinese regulator gets aggressive under new boss.

The arrest of Liu Shiyu, former chairman of the China Securities Regulatory Commission, is unlikely to derail the programme to open up China's financial markets.

He has been replaced by Liu Shiyu of Agricultural Bank of China for mishandling the country’s stock markets turmoil.

The leasing offshoot of China's third largest bank plants a well-received deal at the head of a potentially tricky week for Asian bond markets.

China needs an overarching financial regulator to help maintain financial stability as the country opens up its capital account.