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China Plans to Strengthen Control Over State Financial Institutions

A document released jointly by the ruling Communist Party and the State Council highlighted a series of shortcomings in the way financial capital owned by the state is managed. Photo: VCG
A document released jointly by the ruling Communist Party and the State Council highlighted a series of shortcomings in the way financial capital owned by the state is managed. Photo: VCG

China’s top policymakers signaled that the country’s state-owned financial institutions, including banks, securities firms and insurance companies, will remain at the heart of financing the country’s development, and they called for improvements in the management of the companies and the funds they control to better serve the economy.

“State-owned financial institutions play an important role in serving the real economy, preventing and controlling financial risk, and deepening financial reform,” according to a document released jointly on Sunday by the ruling Communist Party and the State Council, China’s cabinet.

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