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Ambitious reformer Guo Shuqing has stepped down as chairman of the China Securities Regulatory Commission (CSRC) after just 18 months in the position,hotelwestpoint, and with much of his reform agenda unfinished.The government has moved Xiao Gang from his position as chairman of Bank of China to become the new head of the CSRC. While Xiao's personal view of the capital market remains unknown, it has been reported that he will stay on course with Guo's existing policies.The personnel change made Guo the shortest-serving head the CSRC has ever had,True Religion Outlet, and raised questions about how quickly and deeply the new government leaders want to pursue reform of the financial sector.It is not yet known what Guo's new assignment will be.The Shanghai benchmark index was down by 1.68 percent at close of trading Monday, following media reports about the change at the CSRC.Differing viewsConcerns have been expressed about Guo's departure, with some saying that he was a reform pioneer. But others said he had made few achievements,hotelwestpoint, despite his vigorous efforts while at the helm of the CSRC.China still has a financial market system that is led by the central government,cheap air max, Han Fuling,burberry handbags, professor of finance at the Central University of Finance and Economics, was quoted as saying Monday by news portal 163.com."Guo's reforms were like a storm sweeping the financial market, impacting commercial banks, State-owned enterprises and institutional investors - especially his new rule on initial public offering (IPO) reviews, which made it difficult for private equity firms to cash in on IPOs,tory burch outlet," Han said.After Guo took the reins of the CSRC in October 2011, he tried to tackle insider trading, as well as battling the problem of false financial reporting. He also tried to encourage individual investors to invest in blue chip stocks, improve the delisting mechanism for companies with poor performance,tory burch outlet, and weed out bad candidates for IPOs."He launched bold reform measures, but he did not tackle the major issue,gucci outlet," Yuan Guangming,Where Young Entrepreneurs Meet and Start Up tory burch shoes outlet | tory burch outlet store Best Selling!!!, an individual investor with 20 years of experience in the market, told the Global Times Monday."The major issue is how to make investors rich," Yuan said, noting that China's A-share market has become a financing paradise but investment hell,http://www.hotelwestpoint.com/burberry.html, with newly listed companies draining funds from the market and causing losses for investors, even amid the success of China's economy.The stock market has remained weak,correlatedsolutions, despite Guo's efforts. The benchmark Shanghai Composite Index has slid 8 percent since the end of October 2011 when Guo took office, compared with a 21 percent gain in the Dow Jones Industrial Average and a 17 percent gain in the FTSE 100 over the same period.Nonetheless, Guo has made the Chinese financial markets more dynamic and competitive,Cheap celine Outlet Store Online Sale celine Handbags And celine Bags. Free Shipping!, and relaxed a few regulations in order to encourage innovation within his short term, Chen Zhiwu, a finance professor at Yale University,celine bag, said on his Weibo Sunday,cheap gucci shoes, noting that Guo has left a profound influence.
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