The State Council, China's cabinet, appointed Wu Lijun to head the Shenzhen Stock Exchange on Monday, according to a statement by Xiao Gang, president of the China Securities Regulatory Commission (CSRC), during a conference in Shenzhen. The statement did not say when Wu would formally take up his new duties.
Wu Lijun, who previously served as assistant to Xiao Gang and as member of the CSRC Communist Party committee, said he would assist in the development of listed companies, power the growth of various boards and promote the reform of the NASDAQ-like ChiNext small cap growth board. He replaces Chen Dongzheng, who is leaving due to age-related reasons, according to the announcement.