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China's new market supervisor makes a welcome start

After the cautious Liu, Yi Huiman can make his mark at the CSRC with growth-oriented reforms

| China
Yi Huiman must recognise what the CSRC can and cannot do.    © Reuters

Liu Shiyu, who has just been replaced as China's chief securities regulator, showed his mettle in stabilizing the country's stock markets after prices crashed in mid-2015. After that, he unfortunately failed to take the bourses forward, especially with regard to much-needed regulatory liberalization.

Liu's heavy-handed, micro-interference in trading and market operations did little to limit last year's 25.3% fall in the benchmark CSI 300 index, the worst among major markets globally.

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