New CSRC Head 'Faces Test Restoring Investor Confidence'

(Beijing) – The stock market has responded positively to the appointment of Liu Shiyu as the new head of China Security Regulatory Commission (CSRC), but the former veteran banker still faces an uphill battle bolstering investor confidence, an official at the regulator says.

The market rose by more than 2 percent from a day earlier to 2,918 points on February 22 two days after Liu, the former chairman of Agricultural Bank of China, took over at the CSRC, replacing Xiao Gang.