China's bank regulator, the China Banking Regulatory Commission (CBRC), will see its first state audit next year a testing time, some think, because it has been tough on the banks and has made enemies in its two years of life. Audits will also be carried out on more established industry regulators, the China Securities Regulatory Commission (CSRC) and the China Insurance Regulatory Commission. The National Audit Office insists the investigations are routine and will focus on internal finances and how budgetary measures are being implemented. The securities commission's latest black mark involves an officer who allegedly sold names of listing committee members to companies planning to list.
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