China has fired the starting gun for sweeping changes over the next two years that will include the retirement of top political leaders and replacing its top banking, securities and insurance regulators.
Nevertheless, the changes at the top of the country’s three key financial regulators are not expected to presage any immediate policy shifts, at a time when Beijing is battling to engineer a soft economic landing at home while simultaneously considering expanding its role in helping combat the global financial crisis overseas.
“It’s not like this is some kind of a shake-up,” said Patrick Chovanec, associate professor at Tsinghua University’s School of Economics and Management in Beijing.
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