The China Securities Regulatory Commission has announced the promotion of Ziqiang Chen to head the CSRC’s newly-established private equity supervision office, according to a report in Caixin, which was picked up by the state-run China Daily.
Chen is the vice-president of the Securities Association of China, which operates under the CSRC.
The unnamed source in the report also mentioned two other internal appointments. Huaping Chen, the deputy director of the intermediary supervision department, will direct the office that cracks down on illegal securities activities.
Da Huo, deputy director of the department of market supervision, has been promoted to director of the bond supervision department.
“More changes are expected to follow because the regulator plans to merge eight departments into four, and set up four new offices”, the Caixin report said. The four new offices are: privately-offered funds, bonds, innovation and fighting illegal securities and futures trading activities.