benchmark shanghai: During his three-year tenure, Liu indeed did a lot of work in market development, especially in the development of some basic market systems, according to Global Times China. However, in October 2018, the benchmark Shanghai Composite Index plunged from a level above 2,800 to about 2,450 within three weeks. It can be seen that Liu Shiyu, who took over the leadership of CSRC on February 20, 2016 and left the position on January 26, was not the first that failed to serve the full tenure in the post. Statistics also showed that the A-share markets delivered sluggish performance during Liu's tenure, which saw the Shanghai Composite Index and the Shenzhen Component Index lose 9 percent and 25 percent, respectively. Yet, a qualified CSRC chairman needs to care about more than just stock index performance and market trends. Some market observers believe that the bad market performance is an important reason behind Liu's departure.
(news.financializer.com). As
reported in the news.
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