CHINA’S securities regulator, the China Securities Regulatory Commission (CSRC), plans to recruit more staff, of whom around 70 percent will be placed in posts related to supervision.

    According to a list of vacancies published for the coming 2016 national civil servants exam, 43 spots are offered by the CSRC, up from 12 in 2015. Among them, 26 are in supervision, three in enforcement and three in legal affairs.

    Most vacancies require applicants to have degrees in economics, finance or law, 24 requires a graduate diploma or above.

    The increasing number of supervision and legal posts is attributed to surging securities crime. China has taken unprecedented measures to stem a stock rout that has wiped almost US$4 trillion off the market’s value since mid-June. The CSRC has intensified efforts to tackle illegal securities operations such as market manipulation and insider trading.

    China is also ending approval-based initial public offerings and switch to a registration system, which requires the CSRC to focus more on policy making and supervision, said Zhang Cheng, an securities analyst with Datong Securities.

    China plans to recruit more than 27,000 civil servants for national-level government organs this year, 25 percent up from last year, its largest cohort of officials ever.

    (Xinhua)