China to merge regulators and expand central bank’s role
PBoC will gain key powers from regulatory commissions and report to key committee
China’s ruling Communist party will merge two of the country’s financial regulators into a new organisation, while expanding the central bank’s regulatory remit, the country’s official news agency, Xinhua, announced on March 13.
The China Banking Regulatory Commission and China Insurance Regulatory Commission will be merged into a new banking and insurance regulatory commission. Certain functions of this new regulator, including drafting key regulations and prudential supervision, will be
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