Finance

China’s Stock Market in Turmoil? Wu Qing’s Potential Resignation Raises Questions

CSRC Chairman Wu Qing seeks to resign due to health, less than a year after his appointment to stabilize markets.

November 13, 2025, 9:04 AM

Exterior sign of the Shenzhen Stock Exchange (SZSE) on a gray granite wall with a water feature.

The prominent signage and logo of the Shenzhen Stock Exchange on its granite exterior wall. By Tada Images / Shutterstock.com.

Executive Summary

Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), has reportedly sought to resign from his position due to health reasons, less than a year after his appointment.

Wu Qing was appointed in February 2024 to stabilize China’s struggling stock markets, following the abrupt removal of his predecessor, Yi Huiman.

During Wu Qing’s tenure, the CSRC implemented market interventions and supportive measures that contributed to a turnaround in investor sentiment and a recovery in Chinese stock markets.

The Story So Far

Wu Qing was appointed Chairman of the China Securities Regulatory Commission (CSRC) in February 2024 with the specific mandate to stabilize China’s struggling stock markets, which were then at five-year lows. His predecessor had been abruptly removed and was subsequently investigated for “serious violations,” highlighting the urgency of his appointment amidst significant market turmoil.

Why This Matters

Wu Qing’s potential resignation less than a year after his appointment, during which he oversaw a turnaround in investor sentiment and a resumption of global investor purchases of Chinese stocks, could introduce new uncertainty into China’s financial regulatory landscape. This sudden departure from a critical role responsible for market stability could impact confidence in the world’s second-largest economy, especially given the previous leadership change amid market turmoil.

Who Thinks What?

Wu Qing has reportedly sought approval to resign from his position as Chairman of the China Securities Regulatory Commission, citing health reasons.

Global investors responded positively to the CSRC’s market interventions and supportive measures under Wu Qing’s leadership, resuming purchases of Chinese stocks and indicating a turnaround in sentiment.

Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), has reportedly sought approval to resign from his position, citing health reasons. This potential departure comes less than a year after his appointment in February 2024, when he was brought in to stabilize the country’s struggling stock markets.

Sources familiar with the matter indicated that Mr. Wu has informed relevant authorities of his intent to step down. It remains unclear if his resignation has been accepted or when he would officially leave one of China’s top regulatory posts. Neither Mr. Wu, the CSRC, nor the State Council Information Office immediately responded to requests for comment from Reuters.

Background and Appointment

Mr. Wu, often referred to as the “broker butcher” due to his tough stance on securities firms during a previous regulatory period, assumed leadership of the CSRC when China’s stock markets were at their lowest levels in five years. His appointment followed the abrupt removal of his predecessor, Yi Huiman, amid significant market turmoil in early 2024. China’s anti-corruption watchdog announced in September that Mr. Yi was under investigation for “serious violations of discipline and law.”

Prior to his recent chairmanship, the 60-year-old Mr. Wu had a long history with the CSRC, including a four-year tenure addressing risks in the securities industry and leading the regulator’s fund department from 2009, where he pursued high-profile insider trading cases. He also served as the deputy party chief of Shanghai, China’s financial hub, and as head of the Shanghai Stock Exchange. Mr. Wu, who holds a doctorate in finance, was elevated to the elite Central Committee of the ruling Communist Party in October 2022.

Market Impact and Outlook

Following Mr. Wu’s appointment, the CSRC implemented a series of market interventions and supportive measures. These, combined with liquidity and governance initiatives, contributed to a turnaround in investor sentiment, with global investors resuming purchases of Chinese stocks listed both onshore and in Hong Kong’s offshore market.

The potential exit of the CSRC chairman underscores ongoing dynamics within China’s financial regulatory landscape. The role is critical for maintaining stability and confidence in the world’s second-largest economy.