China’s Chief Securities Regulator To Step Down, Paying Price For Market Turmoil

The head of China’s security regulator is to step down from his post after a period of chaos on the country’s stock markets that has been fanned by regulatory blunders, the Wall Street Journal reported.

Xiao Gang has been the head of the China Securities Regulatory Commission (CSRC) since 2013. The end of his tenure at the agency is expected to be officially announced within days, the Journal reported.