China appoints 'Broker Butcher' Wu Qing as new head of securities regulator

BEIJING, CHINA – NOVEMBER 13: Illuminated skyscrapers stand in the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zhong/VCG via Getty Images)

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China's cabinet on Wednesday appointed markets veteran Wu Qing as head of the China Securities Regulatory Commission. State media Xinhua reportedInstead, Yi Huiman navigated the turbulent waters of the market downturn to Beijing.

Nicknamed the “Broker Butcher,” Wu was previously deputy mayor of Shanghai, China's main financial center, and served as chairman of the Shanghai Stock Exchange for nearly two years.

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