A China Securities Regulatory Commission sign is seen at the regulator's headquarters on November 16, 2020 in Beijing.
China's securities regulator on Tuesday promoted its head of law enforcement to the role of vice chairman, underscoring Beijing's determination to tighten oversight of its $5.1 trillion stock market.
Li Ming, chief of the enforcement bureau of the China Securities Regulatory Commission, will replace vice chairman Fang Xinghai, the CSRC said in a statement, citing a decision by China's State Council, or cabinet.
The CSRC has pledged to regulate the market with "teeth and thorns" under chairman Wu Qing.
Prior to the promotion, Li headed the enforcement bureau, which is responsible for probing illegal securities activities, handing criminal cases to the relevant authorities and facilitating cross-border investigations.
Persons:
underscoring, Li Ming, Fang Xinghai, Fang, Xi Jinping, CSRC, Wu Qing, Li
Organizations:
China Securities Regulatory, China Securities Regulatory Commission, China's State Council, Reuters
Locations:
China, Beijing, Europe, United States