China changes top securities administration to halt stock price decline, state media. The reason has not been made clear, but the market is pointing out that the drop in stock prices may have been the reason for his dismissal.
In China, stock prices continued to decline due to factors such as the real estate recession, and this committee was responsible for taking measures to halt the decline. Since late January, a series of countermeasures have been taken, including restricting short selling and strengthening regulations, as well as encouraging listed companies to buy back their own shares.