China to Roll Out Financial Holding Company Regulations Later This Year
After a delay of 16 years, China is expected to finally roll out regulations for financial holding companies later this year.
The news comes after regulators issued a guidance document in April on strengthening the supervision of non-financial companies that invest in financial organizations.
That document — jointly released by the People's Bank of China (PBOC), the China Banking Insurance Regulatory Commission (CBIRC), and the China Securities Regulatory Commission (CSRC) — builds on a pilot program the central bank set up in December to simulate the supervisory system it hopes to have in place soon, multiple sources told Caixin.
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