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China Said to Name Reformer Guo as Head of Banking Regulator

  • Guo held other financial-sector roles, including CSRC chairman
  • Challenges include shadow banking, soured loans at China banks
Guo Shuqing.

Guo Shuqing.

Photographer: Sim Chi Yin/Bloomberg
Updated on

China has appointed financial-sector expert Guo Shuqing as the new head of the nation’s banking regulator, according to people familiar with the matter.

Guo is replacing Shang Fulin, who is retiring, said the people, asking not to be identified as the matter is private. Guo’s appointment as chairman and party secretary of the China Banking Regulatory Commission was announced internally to CBRC staff on Friday, said the people.