At the beginning of 2005, the CSRC made a major adjustment. In this adjustment, all the vacant vice-chairmen are in place and the division of labor is clear. Not long ago, Jacky Jiang, former general manager of the Shanghai Futures Exchange, and Liu Xinhua, former director of the General Office of the CSRC, were promoted to the system of assistant to the chairman of the CSRC, which was a follow-up to last year's adjustment.
This adjustment is an internal personnel transfer since the establishment of 1992 CSRC.
Under the background of successful share-trading reform, this adjustment seems to be more profound: the regulatory thinking of CSRC will enter a stable, clear and orderly era.
Great adjustment
At the end of August and the beginning of September this year, a list of more than 50 people appeared on the internal network of the CSRC for publicity, with the purpose of soliciting opinions from all parties. The personnel appearing on the list will be promoted from deputy director level to deputy bureau level in this change.
It is understood that only a part of the people on the list have been appointed or clearly left, and others will not be able to determine their positions until the end of September.
"This time, personnel are basically cadres in charge. These directors and deputy directors will generally go to the local securities regulatory bureau as deputy directors or assistant directors, responsible for one or several departments, which will get exercise. " People close to the CSRC said.
In this adjustment, most of the directors and deputy directors who will be promoted belong to those who have worked in the CSRC for a long time. For example, Wang Jianjun, director of the comprehensive department of the issuance department, will be the deputy director of the Yunnan Securities Regulatory Bureau, and Huang Lixin, deputy director of the General Office Secretariat, will be the deputy director of the Jiangsu Securities Regulatory Bureau.
The transfer of local securities regulatory bureau officials is also more frequent. In addition to Liu Xing's emphasis on being the general manager of Dalian Commodity Exchange, Ouyang Changqiong, another deputy director of Guangdong Securities Regulatory Bureau, was transferred to the deputy director of the institutional department of the CSRC. Wu Hanmin, assistant director of Beijing Securities Regulatory Bureau, was transferred to Jiangxi Securities Regulatory Bureau. Xu Shuheng, former director of Jiangxi Securities Regulatory Bureau, was removed from the post of inspector because of his age, and Zhou Jun, deputy director, was transferred to Deputy Director of Personnel and Education Department of CSRC.
This time, the transfer of local securities regulatory bureau officials is mostly horizontal, and horizontal transfer is generally not publicized internally.
Looking back on the personnel adjustment of the CSRC in the past two years, the institutional department has always been the focus of personnel adjustment. Since the personnel adjustment of the CSRC at the end of 2004, seven personnel in the Institutional Department have been promoted to posts at or above the deputy bureau level. Zhuang Xinyi, Light Dance, Chen Gongyan and Li Xiaoxue. Previously, Ding Guorong, former director of the Audit Department of the Institutional Department, became the chairman of Shen Yin Wanguo, and Song Qing, deputy director, became the president of Anxin Securities, a newly established securities company. Chen Huaping, Director of Inspection Division I of the Institutional Department, will serve as Assistant Director of the Securities Regulatory Bureau.
Judging from the information currently available, some bureau-level and deputy bureau-level officials are basically transferred.
The first adjustment in place is the futures industry. On September 19, Liu Xingqiang, the former director of Guangdong Securities Regulatory Bureau, came to an end as the general manager of Dalian Commodity Exchange, marking the end of a new round of personnel layout. Previously, Jacky Jiang, the general manager of the previous issue, returned to the CSRC as assistant to the chairman and director of the futures supervision department; At the end of August, Zhu, the former party secretary and general manager of Dalian Commodity Futures Exchange, was appointed as the general manager of the newly established China Financial Futures Exchange. Yang Maijun, former director of futures supervision department of CSRC, succeeded Jacky Jiang as the last general manager. In February this year, Zhengzhou Commodity Exchange completed personnel adjustment. Zhao Zhengping, deputy director of the General Office of the CSRC, served as Party Secretary and General Manager of Zhengzhou Commodity Exchange, and Zhang Banghui, former deputy director of the futures supervision department of the CSRC, served as Party Committee member and deputy general manager.
"This transfer was announced internally half a month ago, and most of the cadres transferred to the local securities regulatory bureau are middle-level cadres. They have worked in the CSRC for more than three years. With their work performance and years, many of them have arrived at the time of promotion. The CSRC does not have so many positions, and it is inevitable to continue to exercise. " A CSRC official said.
An official of the local securities regulatory bureau believes that due to the vacancy of deputy directors and assistant directors of many local securities regulatory bureaus, this adjustment can not only enrich the local securities regulatory bureaus, but also achieve the purpose of training these cadres.
In this adjustment, those officials who have been engaged in the central work of the CSRC for nearly two years, mainly the share reform, are basically not among them. According to the analysis of people close to the CSRC, first, last year's adjustment was mainly in the institutional department and the issuance department. The organization department split up and set up several new departments, while the distribution department set up two distribution departments, issuing one and adding another distribution office. "Although the share reform has progressed to a certain stage, most of the future share reform companies are' nail houses', and there are many people in need, so it is impossible to transfer all these people"; Second, this year's share-trading reform and the laws and regulations on the division of old and new are mainly formulated by these people, and only they know the situation best.
However, some CSRC officials and some securities companies believe that this adjustment has nothing to do with whether the share reform is completed.
It's still possible
In September, 2004, due to the continuous downturn in the stock market, rumors that Shang Fulin, chairman of the China Securities Regulatory Commission, might leave his post were rampant. Two years later, in September 2006, the news that Shang Fulin was about to be transferred came from the market again. "He is the longest-serving chairman since the establishment of the CSRC. These five years can be regarded as a mission." An insider spoke highly of this.
After all the misunderstandings, objections and rumors, Shang Fulin, chairman of China Securities Regulatory Commission, "solved a lot of extremely complicated problems in the securities market in the simplest and most direct way". At the end of June this year, Shang Fulin once said frankly: At present, the capital market reform has achieved initial results, and the construction of market basic system has achieved initial results. "This is not only the summary of Chairman Shang, but also the common understanding of all investors in the securities market." Mr. Zhang Weixing, a market veteran and an expert on non-tradable shares reform, commented.