Guo is CBRC chief, sector upbeat

Experts see reforms veteran aiding regulatory coordination

The appointment of Guo Shuqing, governor of Shandong province, as chairman of the China Banking Regulatory Commission on Friday, will benefit the financial services sector in terms of reform, risk control and coordination with regulators of related industries, said researchers and economists.

Guo, 60, replaces the retiring Shang Fulin, 65, who has been CBRC chairman since October 2011. Born in August 1956, Guo gathered rich experience in economic and financial sectors before his appointment as Shandong governor.