BEIJING :China will set up a national financial regulatory administration, according to a plan announced on Tuesday, in the biggest overhaul of the country's financial supervisory apparatus in years. The China Banking and Insurance Regulatory Commission (CBIRC), the country's banking and insurance watchdog, w
BEIJING :China will set up a national financial regulatory administration, according to a plan announced on Tuesday, in the biggest overhaul of the country's financial supervisory apparatus in years.
China's financial sector is currently overseen by the People's Bank of China , the CBIRC, and the China Securities Regulatory Commission , with the cabinet's Financial Stability and Development Committee having overall purview. The new administration will"strengthen institutional supervision, supervision of behaviours and supervision of functions," according to the plan, with all kinds of financial activities to be supervised according to the law.
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