New Era Dawns for Financial Oversight

Leadership changes for China's most prominent financial watchdogs – the China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission – tempted markets recently with hints of future reform.

Yet any near-term progress for market-oriented reforms would likely have to complement – or perhaps take a back seat to – the serious, more immediate challenges facing each new chairman named October 29 by the Central Committee of the Communist Party.