China to Set Up Enlarged Financial Regulatory Authority

Bloomberg2023-03-07

China plans to strengthen oversight of its $60 trillion financial system by setting up an enlarged national regulator while streamlining operation at its central bank.The new body will absorb its ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（1）

KingMount
·2023-03-07
Hmmm.. good news?
Reply
Like
Report
Fold Replies
- KingMount:
  once got structure then can move forward?
  2023-03-07
  Reply
  Report
- 1M55:
  time for sudden clampdown? why many don't invest in chinese equities is simply due to money loss market? take a look at the charts US and HST. YKIK
  2023-03-07
  Reply
  Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1100253427?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-03-07 17:42","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1100253427","market":"hk","top_or_hot":-1,"title":"China to Set Up Enlarged Financial Regulatory Authority","media":"Bloomberg","content":"<div>\n<p>China plans to strengthen oversight of its $60 trillion financial system by setting up an enlarged national regulator while streamlining operation at its central bank.The new body will absorb its ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-03-07/china-to-set-up-enlarged-financial-regulatory-authority\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China to Set Up Enlarged Financial Regulatory Authority</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina to Set Up Enlarged Financial Regulatory Authority\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-07 17:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-03-07/china-to-set-up-enlarged-financial-regulatory-authority><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China plans to strengthen oversight of its $60 trillion financial system by setting up an enlarged national regulator while streamlining operation at its central bank.The new body will absorb its ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-03-07/china-to-set-up-enlarged-financial-regulatory-authority\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2023-03-07/china-to-set-up-enlarged-financial-regulatory-authority","article_id":"1100253427","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1100253427","pubTimestamp":1678182147,"columns":[],"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"China plans to strengthen oversight of its $60 trillion financial system by setting up an enlarged n","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"中国将扩大金融监管机构","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"China plans to strengthen oversight of its $60 trillion financial system by setting up an enlarged national regulator while streamlining operation at its central bank.The new body will absorb its banking and insurance watchdog and oversee all financial sectors except the securities industry, according to a plan announced at the National People’s Congress Tuesday. It will take over functions including investor protection and oversight of financial holding companies from the central bank and the securities regulator.The China Banking and Insurance Regulatory Commission will cease to exist after the overhaul, while the China Securities Regulatory Commission will become a government agency directly under the State Council, according to the plan.The moves are aimed at “solving the long-standing conflicts and issues in the financial area,” according to the plan. The new authority will be focused on stepping up oversight of financial institutions and cracking down on violations, it said.The shake-up will give the Communist Party a firmer grip on the sector and centralize key policy decision-making under President Xi Jinping in his precedent-defying third term. It marks the latest development in a decade-long effort to push for consolidation — or at least greater cooperation — among China’s financial regulators, and follows an earlier merger of the banking and insurance watchdogs.Other key points include:CSRC takes oversight of corporate bond issuance from the National Development and Reform CommissionThe central bank will streamline its local branchesStaff at regulators including PBOC and the new authority will be paid on par with the nation’s public servantsThe number of employees at central government departments will be slashed by 5%Beijing pledged to effectively prevent and defuse major economic and financial risks this year, according to the government work report delivered by outgoing Premier Li Keqiang on Sunday. Authorities will continue to deepen financial reforms, step up regulation and make sure all parties involved assume the full responsibilities to guard against both regional and systemic financial risks, according to Li.Last year at the annual Central Economic Work Conference, Xi called for deepening financial reforms and the strengthening of the Communist Party’s “centralized and unified” leadership over financial work.The Chinese leader in 2018 gained more direct control over the levers of money and power after he launched a sweeping government restructuring plan that saw the merger of China’s banking and insurance regulators.Overall risk in the financial system is controllable, PBOC governor Yi Gang told a press conference last week. The number of financial institutions rated as high risk has more than halved from the peak, according to the latest data from the central bank, with the total assets of highly risky institutions accounting for just 1% of the total.","kind":"news","is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9940768542,"gmtCreate":1678184619986,"gmtModify":1678184623430,"author":{"id":"3586783962688685","authorId":"3586783962688685","name":"KingMount","avatar":"https://community-static.tradeup.com/news/4a2026445d478ce38005a22047c5342e","vip":1,"crmLevel":7,"crmLevelSwitch":1,"idStr":"3586783962688685","authorIdStr":"3586783962688685"},"htmlText":"Hmmm.. good news?&nbsp;","listText":"Hmmm.. good news?&nbsp;","text":"Hmmm.. good news?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9940768542","repostId":1100253427,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":105972458,"gmtCreate":1678186236114,"gmtModify":1678186239660,"authorId":3586783962688685,"author":{"id":3586783962688685,"idStr":"3586783962688685","authorId":3586783962688685,"name":"KingMount","avatar":"https://community-static.tradeup.com/news/4a2026445d478ce38005a22047c5342e","vip":1,"crmLevel":7,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9940768542,"type":1,"supId":105972449,"prevId":0,"content":"once got structure then can move forward?","text":"once got structure then can move forward?","html":"once got structure then can move forward?"},{"id":105972449,"gmtCreate":1678186058991,"gmtModify":1678186062862,"authorId":3565163058838010,"author":{"id":3565163058838010,"idStr":"3565163058838010","authorId":3565163058838010,"name":"1M55","avatar":"https://community-static.tradeup.com/news/0bd27cbcf695e34991231d096c06c44d","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"93.72%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9940768542,"type":1,"supId":0,"prevId":0,"content":"time for sudden clampdown? why many don't invest in chinese equities is simply due to money loss market? take a look at the charts US and HST. <u>YKIK</u>","text":"time for sudden clampdown? why many don't invest in chinese equities is simply due to money loss market? take a look at the charts US and HST. <u>YKIK</u>","html":"time for sudden clampdown? why many don't invest in chinese equities is simply due to money loss market? take a look at the charts US and HST. <u>YKIK</u>"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":46,"commentSize":1,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false}}