China's new chief banking regulator has started with a bang, issuing a flurry of new policy directives during his first month aimed at the industry's knottiest problems, in line with the government’s focus this year on managing financial risk.
The China Banking Regulatory Commission has issued seven policy documents in the past 12 days, in what state news agency Xinhua is calling a “regulatory windstorm”. Some were issued publicly, while others were sent directly to banks without public disclosure.
Guo Shuqing, who took up his post in late February, is seen as a leading candidate to succeed Zhou Xiaochuan as governor of the People’s Bank of China, the central bank. Mr Zhou, 69, is already two years beyond the normal retirement age for Communist party officials and a new appointment is due within a year.