Xiao Gang

肖钢

1958–present

Chairman of the China Securities Regulatory Commission (2013–2016)

Biography

Xiao Gang was born in 1958 in Ji'an, Jiangxi Province. He studied at the Graduate School of the People's Bank of China. He spent his early career within the People's Bank system, serving as head of the Guangdong branch and later as a deputy governor of the central bank. From 2003 to 2013 he served as Chairman of Bank of China, during which time the bank completed its joint-stock restructuring and listed on the Hong Kong and Shanghai stock exchanges.

In March 2013, Xiao was appointed Chairman of the China Securities Regulatory Commission. During his tenure, A-share markets experienced a sharp rise followed by a rapid decline in 2015; under his leadership the CSRC implemented a series of interventions, including suspending initial public offerings, prohibiting major shareholders from reducing their holdings, and deploying state funds to purchase shares directly. Xiao stepped down as CSRC Chairman in February 2016 and was succeeded by Liu Shiyu.

Related Events (1)

2015-06-12

China Stock Market Crash

Driven by sustained state media coverage and loose credit, the Shanghai Composite Index rose more than 150% from mid-2014 to June 2015, then fell more than 30% in three weeks. The government responded with a series of interventions, including prohibiting large shareholders from selling shares and deploying state funds to purchase equities directly.

economic