China may replace top market regulator

Shanghai

CHINA'S ruling Communist Party has begun looking for an eventual replacement for the top securities regulator, who faces internal criticism over his handling of this year's boom and bust in Chinese stock prices, sources said.

The party has in recent weeks sounded out potential candidates to succeed Xiao Gang as chairman of the China Securities Regulatory Commission (CSRC), and party elders will discuss the matter this summer, two sources said.