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Chief Banking Regulator Vows Closer Oversight, Greater Market Access

By Wu Hongyuran and Dong Tongjian
Top banking regulator Guo Shuqing said that the decreasing market share of foreign banks is not a good sign in terms of competition. Photo: Visual China
Top banking regulator Guo Shuqing said that the decreasing market share of foreign banks is not a good sign in terms of competition. Photo: Visual China

Tightening oversight of financial institutions and further opening of domestic markets are the priorities for China’s banking regulator going forward.

The China Banking Regulatory Commission (CBRC) will step up supervision of sprawling financial markets, despite initial success in curbing credit-fueled speculative activities, Chairman Guo Shuqing said at a press conference during the 19th National Congress of the Communist Party of China.

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