(2008-06-01)

Shang Fulin Re-elected Vice Chairman of Executive Committee of IOSCO

From May 26 to 29, 2008, the 33rd Annual Conference of the International Organization of Securities Commissions (IOSCO) was held in Paris, France. More than 750 representatives of securities supervision institutions, international organizations, stock exchanges and financial institutions from 100-odd countries and regions attended the conference and made in-depth discussions on issues including subprime mortgage crisis and global financial market supervision, assets securitization and financial innovation as well as hedge funds and sovereign-wealth funds. Chinese delegation, led by Chairman Shang Fulin of the China Securities Regulatory Commission (CSRC), attended the conference.

During the Annual Conference with great importance to the IOSCO, the Executive Committee, as the IOSCO’s decision-making institution, held term change election, and other internal committees including the Technical Committee, the Emerging Markets Committee and four Regional Committees also held re-election. In the competitive election of the Executive Committee, the CSRC was, upon all members’ votes, re-elected the member of the IOSCO Executive Committee. After election by the Executive Committee’s members, Shang was re-elected the Executive Committee’s Vice-chairman for a 2-year term. It is the 6th time that the CSRC has been elected the member of the Executive Committee since 1998 and also the 2nd time that Shang has been elected Vice Chairman of the Executive Committee since 2006, which indicates that Chinese capital market has an increasingly great international influence and Chinese securities supervision institutions have more discourse rights on the world capital market. During Shang’s 2-year term as the Executive Committee’s Vice Chairman, the CSRC has played a positive role, widely acknowledged by other members.

As the most important international organization in the field of securities supervision, the IOSCO, formerly Inter-American Association of Securities Commissions since 1974, was established in 1983, with its headquarters in Madrid, Spain. Currently, there are 196 members in the IOSCO, including 114 full members. As a decision-making institution of the IOSCO, the Executive Committee is composed of 19 members, responsible for making significant decisions or resolutions to achieve the IOSCO’s tenet. Moreover, year 1995 witnessed the CSRC’s full membership in the IOSCO.

During his stay in France, Shang made bilateral or multi-lateral exchanges and communication with heads of securities supervision institutions in many countries (or regions) including France, the U.S.A. and Australia, to enhance mutual understanding and promote the CSRC’s supervisory cooperation with the above institutions.