Embattled China Securities Regulator Grapples With Staff Exodus
- Head of CSRC is second official to acknowledge talent shortage
- Staffers quit under pressure from rapidly developing markets
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The head of China’s securities regulator has become the second senior finance industry official this month to highlight the lack of skilled professionals to handle the agency’s ever-widening responsibilities amid turmoil that rocked the nation’s markets.
Many employees at the China Securities Regulatory Commission had left amid mounting pressure from rapid changes in capital markets, Xiao Gang, chairman of the CSRC, said at the agency’s annual meeting in Beijing on Saturday. Measures have to be taken to deal with the exodus, he said.