Cabinet Said to Create Body to Coordinate Affairs of Financial Regulators

(Beijing) – The general office of the State Council has created a secretariat to coordinate the administrative affairs of China's major financial regulators, people with knowledge of the matter say.

The new body was created by making a bureau that handled paperwork related to the financial services sector independent, the sources said.

It will focus on facilitating communication and cooperation between the central bank and the regulators for the securities, banking and insurances industries on administrative issues, the sources said.