May 18, 2023 03:58 PM

FINANCE

China Inaugurates New National Financial Regulator

By Liu Ran and Zhang Yukun

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What’s new: China’s new national financial regulator was inaugurated Thursday morning in a ceremony hosted by its Communist Party chief Li Yunze.

The state administration for financial regulation (SAFR) oversees all sectors of the financial industry, excluding securities. It has absorbed the now-defunct China Banking and Insurance Regulatory Commission, whose website has been renamed accordingly.

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