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.
