China to set up new party-led financial supervisors
New committees to be established by end of 2023 as part of wider supervisory change
China will set up two new bodies to strengthen the Communist Party’s oversight of the financial sector.
The move is part of a broader plan to restructure the country’s financial regulatory framework. A Central Financial Commission will “strengthen the Central Committee’s centralised and unified leadership over financial work”, Xinhua News reported on March 16.
The commission will oversee financial stability policy, according to a plan drafted by the Central Committee and the State Council. It
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