The China Securities Regulatory Commission (CSRC) has just announced the establishment of a new internal regtech office.
CSRC’s “Tech Department” (科技局) will have the goal of creating a big data supervisory and regulatory system for Chinese capital markets that will incorporate various existing data sources.
50 year-old Tao Qian (姚前), formerly the general manager of China Securities Depository and Clearing Corporation Limited (CSDC) and a former deputy-governor of the Chinese central bank, has been appointed head of CSRC’s Tech Department.
Tao first joined the Chinese central bank at the end of 2010, and has served as head of the Central Bank Digital Currency Research Institute.
Reports first emerged in December 2020 that CSRC was planning to launch a new regtech department to be headed by Tao.
CSRC issued the “Regtech General Establishment Plan” (监管科技总体建设方案) at the end of August 2018, which outlined five fundamental data analysis capabilities, and 32 regulatory analysis scenarios across seven major categories.