China's new securities chief said to urge strict market supervision

Beijing

THE new head of China's securities regulator has indicated he will take a tough stance on misconduct and support the stock market by driving more capital into it, according to people familiar with the situation.

In his first comments since taking over as the chairman of the China Securities Regulatory Commission (CSRC) on Saturday, Liu Shiyu told senior officials at the regulator that its main tasks include strictly supervising the market and checking for manipulation, said the people, who asked not to be identified as the matter is not public.