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26 Mar 2018, Natalia Yanakieva, EMIS Acting Head of Editorial

China Revamps Financial Regulatory System

In an attempt to be more prepared to deal with financial risks, China has merged its banking and insurance regulators. The head of the new “super” regulator together with the head of the China Securities Regulatory Commission (CSRC) and the People's Bank of China, will be governed by the Financial Supervision and Development Committee, a special cabinet level committee set up in 2017. China has been battling high levels of debt among some firms and industries and systemic risks produced by the interconnectedness of wealth management products.

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Original source: Intellasia.Net News