A financial industry veteran with a doctorate from Stanford University is set to serve as vice-chairman of China’s securities regulator, as the agency seeks to repair damage to its reputation by its handling of stock market volatility this summer, local media reported yesterday.

中国媒体昨日报道，拥有斯坦福大学(Stanford University)博士学位的金融行业资深人士方星海即将出任中国证监会(CSRC)副主席一职。目前证监会正寻求修复其在今年夏季应对股市动荡的方式对自身声誉造成的损害。

Fang Xinghai, who serves on a financial and economic policymaking group under Premier Li Keqiang, will take over as deputy chairman of the China Securities Regulatory Commission, Caixin reported.

财新报道称，中国总理李克强手下的中央财经领导小组办公室国际经济局局长方星海将接任中国证监会副主席。

The CSRC was chastised for its handling of the stock market turmoil . The Shanghai Composite rose 150 per cent in the year to June 9, then fell 44 per cent in the next two and a half months. It has since recovered slightly.

中国证监会因处理股市动荡的方式而受到外界指责。在截至6月9日的一年，上证综指飙涨150%，接着在接下来的两个半月中下跌44%。此后略有回升。

The agency, where working hours are long and salaries low, has struggled to attract and retain talent.

证监会因工作时间长且薪资低难以吸引和留住人才。

Analysts say the CSRC and its chairman, Xiao Gang, failed to contain the risks from an increase in leverage that accompanied the rally through margin lending, including lightly regulated grey-market margin lending.

分析人士表示，证监会及其主席肖钢未能遏制股市上涨期间融资交易推高杠杆率所带来的风险，包括监管松弛的灰色融资市场。

After the correction began, critics frowned at the CSRC’s heavy-handed response, which included a ban on share sales by major shareholders, a crackdown on futures trading, and hundreds of billions of renminbi spent by state financial institutions to prop up the market.

在股市调整开始以后，批评者对证监会的强硬回应难以认同，这些措施包括禁止大股东出售股份、打击期货交易以及国有金融机构花费数千亿元人民币救市。

Mr Fang will replace departing deputy chair Liu Xinhua, who reached the mandatory retirement age of 60 last month.

方星海将接替上月达到法定退休年龄（60岁）的证监会副主席刘新华。

Industry observers pointed to the broad experience and international outlook of Mr Fang, 51.

行业观察人士指出，51岁的方星海具备广泛经验和全球视野。

He worked as an economist at the World Bank in Washington before returning to Beijing for a senior role at China Construction Bank He later served as a senior executive at Galaxy Securities and as deputy general manager of the Shanghai Stock Exchange .

他曾在华盛顿担任世界银行(World Bank)经济学家，而后回到北京在中国建设银行(CCB)担任高职，后来担任银河证券(Galaxy Securities)高管以及上海证券交易所(Shanghai Stock Exchange)副总经理。