Top Exec at Chinese Brokerage Replaced (AP)

Via “The chairman of one of China’s biggest securities companies has been replaced in an effort to rescue the ailing state-owned brokerage, officials and media reports said Thursday.

The decision to replace Zhou Jipu as chairman of Huaxia Securities marks the second shake-up this year of a major Chinese brokerage following the government takeover of China Southern Securities Co. in January.

The Beijing city government, which controls Huaxia, decided at a meeting last week to replace Zhou, said an official at the China Securities Regulatory Commission, speaking on condition of anonymity. ”

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