We no longer check to see whether Telegraph. To see our content at its best we recommend upgrading if you wish to continue using IE or using another browser such as Firefox, Safari or Google Chrome. The year-old chairman of the China Securities Regulatory Commission CSRC tendered his resignation last week after his brainchild, a "circuit breaker" mechanism to limit stock market losses, was blamed for exacerbating a sharp sell-off, a source with ties to the leadership and a financial industry source told Reuters.

The "circuit breaker" was deactivated on January 7just three days after its introduction. It is certain he will change jobs," the source close to the leadership said, adding it was unclear where he would go next. The CSRC denied Xiao had offered to resign in a comment made via Weibo, a popular microblogging site. On Saturday, Xiao gave a speech at an annual meeting in which he said the stock market rout has highlighted the problems facing CSRC's regulatory mechanisms.

The party's Organisation Department, or personnel ministry, has short-listed three candidates to succeed Xiao, the sources said. Xiang Junbo, who turns 59 this month and is chairman of the China Insurance Regulatory Commission CIRCis the leading candidate, they said. A 'circuit breaker' failed to stop share price falls on the Shanghai market. Another candidate is Huang Qifan, 63, mayor of the southwestern metropolis of Chongqing, who is also tipped to become secretary-general of the State Council, or cabinet, and may concurrently serve as CSRC chairman, the sources said.

If confirmed as cabinet secretary-general - Premier Li Keqiang's right-hand man - Huang would help uk stock markets regulator a stalling economy and market turbulence as well as oversee the entire spectrum of portfolios: The government campaign to restore confidence in the country's volatile stock markets has been dented by entrenched market pessimism, with the benchmark Shanghai Composite Indexthe most closely watched by Chinese investors, falling through the lows seen during the depths become a forbes don t gamble on binary option broker last year's crash.

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Tuesday 20 June China's stock market regulator 'resigns' after circuit-breaker fiasco The man behind the 'circuit breaker' mechanism, designed to cool sharp sell-offs in China's stock markets, has reportedly quit China Securities Regulatory Commission chairman Xiao Gang addresses the Asian Financial Forum in Hong Kong in Both sources requested anonymity because they were not authorised to speak to the media.

Xiao's term does not formally expire until the end of The biggest companies in the world in The Big Short hits UK cinemas: These are the most valuable start-ups in the world.

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China's stock market regulator 'resigns' after circuit-breaker fiasco - Telegraph

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