China’s CSRC says report about Xiao Gang offering to resign is wrong

(From Caixin Online)

Reuters report that head of securities regulator handed in resignation “does not accord with the facts,” securities regulator says

By staff reporter Liu Caiping

The China Securities Regulatory Commission (CSRC) said on January 18 on its social media account that a “Reuters report about our chairman, Xiao Gang, tendering his resignation does not accord with the facts.”

CSRC head Xiao Gang

CSRC head Xiao Gang

“We have contacted Reuters and demanded they make a correction,” the regulator said on Weibo, China’s version of Twitter.

It posted the message shortly after the news outlet reported that Xiao had offered to resign. Reuters cited an unnamed source with ties to the leadership as saying that Communist Party decision-makers are “extremely unhappy” with Xiao. The article also cited another unnamed source in the financial industry. Read more


Categories: Asia Unhedged, China

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