Caixin
Nov 06, 2018 06:23 PM
FINANCE

China Readies Rules to Bring Financial Conglomerates Into Line

Pending regulations for financial conglometarets aim to stem the expansionary tide of the county’s financial sector. Photo: VCG
Pending regulations for financial conglometarets aim to stem the expansionary tide of the county’s financial sector. Photo: VCG

The People’s Bank of China (PBOC) plans to roll out long-awaited pilot regulations for the country’s financial conglomerates in the first half of 2019 to get the sprawling sector in line.

The coming regulations — 16 years in the making — aim to stem the expansionary tide of the county’s financial sector, whose growth over the last few years the central bank has characterized as “barbaric” in a new report.

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