China’s State Council has established a new working group in preparation for the upgrading of its financial department to a bureau-level entity amid growing concerns over what many have viewed as regulatory missteps, Reuters reported, citing unnamed sources. The group, which would mark a greater supervisory role in finance for the council, will be headed by deputy secretary-general Xiao Jie. Another report from Bloomberg, also citing unnamed sources, said the council, which serves as China’s cabinet, had created a new department within its general office to coordinate between economic and financial regulators that would be headed by Li Zhenjiang, vice president of the Agricultural Bank of China.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved