"China's Swift Market Reassurance: New Regulator and Developer Financing"

China's main securities regulator chairman, Yi Huiman, was ousted in a surprise move, signaling alarm over the $5 trillion stock market selloff. Wu Qing, a close ally of Premier Li Qiang, is taking over as chairman of the regulator. The departure of Yi underscores the growing sense of alarm within President Xi Jinping’s government over the market meltdown. China watchers say the move may signal additional measures to revive the stock market, as previous sackings of CSRC chiefs heralded extended equity rallies. However, challenges such as the property crisis, geopolitical tensions, and weak growth continue to weigh on the market's performance.