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China appoints “broker butcher” Wu Qing as new head of the Securities Regulatory Commission

China appoints “broker butcher” Wu Qing as new head of the Securities Regulatory Commission

BEIJING, CHINA – NOVEMBER 13: Illuminated skyscrapers stand in the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zihong/VCG via Getty Images)

VCG | China Optical Group | Getty Images

The Chinese Cabinet on Wednesday appointed market veteran Wu Qing as head of the China Securities Regulatory Commission. State media said XinhuaReplacing Yi Huiman to navigate Beijing through the turbulent waters caused by a market downturn.

Nicknamed the “Middle Butcher,” Wu previously served as vice mayor of Shanghai, China's main financial center, and served for nearly two years as head of the Shanghai Stock Exchange.

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