HONG KONG/NEW YORK : A new Chinese financial watchdog will help bridge regulatory gaps but analysts and investors say the agency will consolidate power at the top and could introduce more state and party intervention.In a major shake-up, China will set up the new regulatory body, the National Financial Re
HONG KONG/NEW YORK : A new Chinese financial watchdog will help bridge regulatory gaps but analysts and investors say the agency will consolidate power at the top and could introduce more state and party intervention.
The creation of the NFRA"carries an intent to have better oversight of financial institutions and consumer protection, by ... bringing all financial activities under supervision," said Daniel Tu, founder of venture capital Active Creation Capital.
The new regulator will replace the banking and insurance sector watchdog and bring supervision of the industry into a body directly under the State Council, or cabinet. Under the changes, the central bank will focus on conducting monetary policy and macro-prudential supervision, while the NFRA will focus on micro-level activities, analysts at CITIC Securities said in a research note.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong loses lustre as retail units go vacant and big brands look to ChinaHONG KONG : Hong Kong, one of the world's top luxury shopping destinations, is losing its lustre as high-end retail properties go vacant and famous foreign brands reduce exposure to the city in favour of opening new outlets in mainland China. Glitzy Hong Kong shopping streets once packed with luxury st
Read more »
Hong Kong loses lustre as retail units go vacant and big brands look to ChinaHONG KONG: Hong Kong, one of the world's top luxury shopping destinations, is losing its lustre as high-end retail properties go vacant and famous foreign brands reduce exposure to the city in favour of opening new outlets in mainland China. Glitzy Hong Kong shopping streets once packed with luxury stores
Read more »
Taiwan warns of China's 'repeated provocations', China tells US not to cross red lineTAIPEI/BEIJING — Taiwan will not allow 'repeated provocations' from China, the island's defence minister said on Tuesday (March 7), as China's foreign minister said Taiwan was the 'first red line' that must not be crossed in Sino-US relations.
Read more »
7th suspect linked to Hong Kong socialite Abby Choi’s murder arrestedHONG KONG – A seventh suspect has been arrested in mainland China in connection with 28-year-old Hong Kong...
Read more »
Woman arrested in gruesome killing of Hong Kong model Abby ChoiHONG KONG: A woman accused of assisting a suspect in the gruesome killing and dismemberment of model Abby Choi in Hong Kong has been arrested in mainland China, Hong Kong police said on Tuesday (Mar
Read more »
Analysis:American carmakers muscle up on software, tech to keep horsepower wars goingAmerican carmakers will lean on technology to keep the horsepower wars going among their electric muscle cars, a tectonic shift from the big, rumbling motors of the past.Muscle cars - long dominated by models such as Ford Motor Co's Mustang, the Stellantis-owned Dodge Charger and General Motors Co's Chevr
Read more »