China’s National Financial Regulatory Administration officially opens
Veteran banker and former provincial governor Li Yunze will lead new regulator
China officially opened its new financial regulatory body, the National Financial Regulatory Administration today (May 18).
At the opening ceremony, the NFRA’s party secretary, Li Yunze, said regulators will work hard to eliminate “gaps” and “blind spots” in regulation, financial news outlet Yicai reported. Authorities will strive to prevent systemic financial risks from happening, he added.
Li was appointed head of the NFRA on May 10. He was vice-governor of Sichuan province between 2018 and
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