China Financial Super Regulator Begins Operations

Vice Premier Ma Kai (pictured) chairs the Financial Stability and Development Committee, but the other members of the committee have not yet been revealed. Photo: Visual China

A new cabinet-level committee that will coordinate various regulators to oversee China’s sprawling financial industry started operating, according to the state-run Xinhua News Agency.

The committee, known as the Financial Stability and Development Committee, held its first meeting on Wednesday, Xinhua said. It was chaired by Ma Kai, vice premier of the State Council who is in charge of the financial sector.

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