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China's new securities chief faces old constraints

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Mr Liu, a former central bank official who was most recently chairman of Agricultural Bank of China, now sits atop the molten lava of China's stock markets.

Beijing

THE job of running China's securities watchdog is known by the country's media as "the volcano seat" for its potential to blow formerly glittering careers to smithereens. Xiao Gang is its latest victim. The chairman of China's Securities Regulatory Commission (CSRC) has taken the

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