Think Alan Greenspan, then add attitude. The joke is that Zhu's surname sounds like the Chinese word for pig. Western analysts tend to despair. If it's not direct government interference, it's corruption. And when it's not corruption, it's frustrating policy-making.
Stock markets are, the other joke goes, the country's only legal form of gambling.
Such cynicism used to be well-founded. But not anymore. With the right institutions in place, corruption is down, investment is up, and the government is behaving. The problems start with widespread corruption. The CSRC was set up in October 1992 after rioting in the southern city of Shenzhen in August of that year.