Chinese draft law sets up financial stability fund
New government committee would oversee financial stability as concerns grow
China’s Communist government has published a draft financial stability law, which will set up a financial stability fund.
Chinese authorities published the draft law on April 6. Several agencies drafted it, including the People’s Bank of China (PBoC), the finance ministry, and China’s banking, securities and foreign exchange regulators, Reuters reported.
The law sets out provisions for risk prevention, mitigation and resolution, as well as articles setting out financial institutions’ legal
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