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China Fires Top Securities Regulator

China has removed its top securities regulator. The official Xinhua news agency reported Xiao Gang's dismissal Saturday. The move was not unexpected following a turbulent period in China's stock market. Xiao was responsible for introducing the "circuit breaker" designed to limit stock market losses. However, it only added to the securities market turmoil and was deactivated after only four days of use. Liu Shiyu, chairman of the Agricultural Bank of China...

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