January 18, 2016 / 1:59 PM / 3 years ago

China's securities regulator denies report on chairman's planned resignation

China Securities Regulatory Commission Chairman Xiao Gang addresses the Asian Financial Forum in Hong Kong in this January 19, 2015 file picture. REUTERS/Bobby Yip/Files

HONG KONG (Reuters) - China’s securities regulator said on Monday that a report on its chairman offering to resign is inaccurate.

Earlier on Monday, Reuters quoted sources saying that Xiao Gang, chairman of the China Securities Regulatory Commission, had offered to resign, after perceived mismanagement wiped more than $5 trillion off the value of the Shanghai and Shenzhen stock markets since they peaked last June.

Reporting by Lee Chyen Yee and Meg Shen; Editing by Mike Collett-White

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