Caixin
FINANCE

Shakeup Signals Rise of Select Regulators

People pose for photos in front of the headquarters of China Insurance Regulatory Commission in Beijing. Photo: Caixin
People pose for photos in front of the headquarters of China Insurance Regulatory Commission in Beijing. Photo: Caixin

• Stars of the cabinet-level Financial Stability Committee and the central bank seen as being on the rise with move

• Banking regulatory official says merger of banking and insurance regulators won’t result in too many changes at the former

(Beijing) — Merging the banking and insurance regulators and granting the central bank the power to draft the rules for the industries underscore China’s determination to streamline and strengthen oversight of the finance industry. But the success of the new arrangement depends on how much regulatory coordination and information-sharing can be improved, industry insiders say.

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