The Wall Street Journal carried a piece over the weekend on an emergency meeting convened by China's cabinet late last week
Xiao Gang, chairman of the China Securities Regulatory Commission, was questioned on the circuit-breaker system, and why it was suspended after only 4 days
It looks like Xiao is having the rug pulled from under him even by his own department:
"Xiao is under tremendous pressure," said an official at the China Securities Regulatory Commission. "Unlike in the summer, when he might have been unfairly criticised for the stock sell-off, the latest big drop was a direct result of a system he had insisted on putting in place."
Nice one, tks buddy.
The Wall Street Journal is often gated, but the report is here at an Australian paper, ungated
