Former Bank of China chief Xiao Gang is named to replace Guo Shuqing as chair of China's securities regulator. The news is revealed after CSRC outlines a new reform agenda.
The CSRC is proposing a raft of liberalisations to broaden its QDII programme, potentially presenting new sub-advisory opportunities for foreign fund houses.
China's top securities regulator, Guo Shuqing, is reportedly set to become the governor of Shandong, leaving asset managers uncertain about future market reforms.
BNY Mellon names Japan president, new CIC chief speculation, KKR adds in Japan, Telstra Super chief to retire, DeAM Korea co-CEO exits, Eastspring hires in Greater China sales, Neuberger Berman names adviser, Bobby Wood moves to Serica.
Countdown to joining the MSCI: CSRC boss Guo Shuqing's call for a ramp-up of QFII and RQFII and giving retail investors daily liquidity may be a precursor to a landmark internationalisation of Chinese markets.
Handing 30-50% of Chinese listed state-owned entities' equity to the country's National Social Security Fund would be too aggressive a move, says consultancy Z-Ben Advisors.