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Liu Yuanchun: The replacement of personnel is only a problem of stock market reform

author:Globe.com

On the morning of February 20, the State Council issued a personnel appointment and dismissal, announcing the dismissal of Xiao Gang as chairman of the Securities Regulatory Commission. Five times the rumor of leaving the company finally came true, and during the term of office under heavy public pressure, Xiao Gang has maintained a relatively low-key posture. Today's official appointment and dismissal announcement did not state where Xiao Gang's post went.

Against the backdrop of China's stock market, which has fluctuated sharply over the past year, Xiao Gang's dismissal as chairman of the China Securities Regulatory Commission (CSRC) is quite sensitive, and in the interview, many senior executives of securities companies refused to be interviewed on the grounds that it was inconvenient to speak.

Liu Yuanchun, executive director of the National Strategic Development Research Institute of Renmin University, said that Xiao Gang's dismissal was actually "not a one-person problem, it is a systemic problem." He believes that the securities market is a very professional field, in a way, "tao and technique, beyond the problem of art, some small tools, small skills can not solve such a problem." ”

He believes that there are some systemic problems in the current regulatory system of the securities market, "how to make up for this shortcoming through the replacement of personnel is an important attempt and a beginning." Liu Yuanchun believes that this is just "just broken, need a bigger idea." ”

On February 14, Premier Li Keqiang of the State Council commented on the gains and losses of China's stock market. Liu Yuanchun believes that the phrase "summing up lessons learned" appears in the premier's discussion, which is "still relatively heavy on the language" for Chinese securities regulators.

Liu Yuanchun also reminded that China's current "many things are more important than the stock market, and whether the focus of reform should be shifted from the stock market needs to be explored." ”

Liu Yuanchun is a well-known economist in China who once attended an economic forum presided over by Premier Li Keqiang.

Editor-in-charge: Ni Hongzhang

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