Dec 05, 2016 04:58 PM

CSRC Appoints Two Key Directors amid Ongoing Management Overhaul

(Beijing) — The China Securities Regulatory Commission (CSRC) has appointed new directors for two key departments, filling positions vacated by a leadership reshuffle earlier this year.

An internal memo stated that the CSRC plans to appoint Ying Rongyan as director of the Department of Public Offering Supervision, people who have seen the memo told Caixin.

Ying was named vice president of Citic Securities in 2002, and general manager of the Beijing State-Owned Capital Operation and Management Center in 2005. He also holds senior positions at the Beijing Municipal Commission of Economy and Information Technology.

At the moment, the role of director is still being held in name by Liu Chunxu. But Liu has been on sick leave for much of this year, and the department's deputy director, Wang Zhongcheng, took over most of Liu's duties in the first half of the year. In August, Wang was made party secretary and director of the Zhejiang provincial Securities Regulatory Bureau, leaving a leadership vacuum in the department that Ying will now fill.

Sha Yan, current deputy director of the Department of Fund and Intermediary Supervision, will be promoted to department head. Sha has been the de facto department director since then-director Liang Yongsheng was made party secretary and director of the Jiangsu provincial Securities Regulatory Bureau earlier this year.

Sha has been with the CSRC for 16 years, working in the Shaanxi Securities Regulatory Bureau before joining the Department of Fund and Intermediary Supervision in 2008. "Even though she is relatively young, her ability to do the job well is obvious to everyone," a CSRC staffer told Caixin.

The CSRC internal memo also said that Accounting Department Deputy Director Li Youqiang will be promoted to director.

Contact editor Calum Gordon (

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