Caixin
Jan 28, 2019 08:29 PM
OPINION

Closer Look: Why China Replaced Its Top Securities Watchdog

The Beijing headquarters of the China Securities Regulatory Commission is seen on Nov. 10. Photo: VCG
The Beijing headquarters of the China Securities Regulatory Commission is seen on Nov. 10. Photo: VCG

* Liu Shiyu reduced the waiting list of companies wishing to have initial public offerings, but he was reluctant to let the market, not regulators, determine which companies were worthy

* Liu insisted on tight rules on reverse takeovers and delisting, but when the market started to fall, the CSRC turned a blind eye to some fraudulent reverse-takeover cases

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