The Chinese government have given the go ahead for new reforms to the country’s financial system, Reuters reports, including new regulation for the asset management sector and the instatement of a financial court in Shanghai.
The announcement comes at the close of this week’s Central Committee for Deepening Overall Reform, which was attended by President Xi Jinping. Details of the new regulations themselves were not outlined.
“The launch of deeper reform of the Party and state institutions marks a new stage for deepening reform in all areas,” Xi said during the committee meeting. “The reform will further touch upon profound adjustment of interests, patterns, and changes of the system of institutions.”