China removes its securities regulator after slide in the stock market
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China has removed Yi Huiman as head of the China Securities Regulatory Commission (CSRC) after a steep drop in the country's stock market. He will be replaced by Wu Qing, a veteran of the agency who has headed its institutional supervision arm. The reason for Yi's removal was not specified in the report. The volatility in the stock market has upset China's citizens, with some expressing their frustration on a U.S. embassy social media post about giraffes. The Shanghai Composite has declined 5% this year but has gained 5% from Monday's lows.

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https://www.marketwatch.com/story/china-removes-its-securities-regulator-after-slide-in-the-stock-market-caf84e4b