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Shang FulinChinese politician
Date of Birth: 13.11.1951
Country:  China |
Content:
- Shang Fulin: A Stalwart in China's Financial Landscape
- Career at the People's Bank of China
- Banking Leadership
- President of the China Securities Regulatory Commission
- Party Leadership
- Financial Reforms
Shang Fulin: A Stalwart in China's Financial Landscape
Early Life and EducationShang Fulin was born in Jinan, Shandong, and has a military background, serving from 1969 to 1973. He joined the Communist Party of China in July 1971. After his time in the military, Shang worked at a branch of the People's Bank of China from 1973 to 1978. He then pursued higher education, earning a degree in finance from the Beijing Institute of Commerce and Finance and a doctorate in finance from Southwestern University of Finance and Economics between 1993 and 1999.
Career at the People's Bank of China
Shang Fulin entered the People's Bank of China headquarters in 1982, where he worked in the general planning department for eight years. During this time, he rose through the ranks, becoming a division director and deputy section chief. In 1986, he was appointed section chief of the financial planning department and the credit and monetary policy department. He later became deputy director and then director of the credit and monetary policy department in 1993.
Banking Leadership
In 1994, Shang became assistant bank president, and in 1996, he was named vice president responsible for credit and monetary policy and liquidity. In 1997, he assumed a role in monetary policy as a member of the bank's special banking committee. He was appointed president of the Agricultural Bank of China in February 2002.
President of the China Securities Regulatory Commission
On December 27, 2002, Shang Fulin became president and Party chief of the China Securities Regulatory Commission (CSRC), succeeding Zhou Xiaochuan. His appointment was not without controversy, as Guo Shuqing was also a strong candidate. However, Shang's caution and conservatism were ultimately seen as strengths during the global financial crisis.
Party Leadership
Shang Fulin was an alternate member of the Central Committee of the Communist Party of China (CPC) during the 16th Plenary Session, a full member during the 17th Plenary Session, and retained his membership during the 18th Party Congress in 2012.
Financial Reforms
In 2010, Shang announced plans at the Shanghai Financial Forum to simplify the issuance of corporate bonds and improve credit ratings. The CSRC aimed to support existing companies, reduce credit stress on enterprises, and mitigate the risk of another round of credit crises in China.
