Caixin
Jan 18, 2024 07:41 PM
FINANCE

In Depth: China Financial Regulator Aims for Greater Consistency With New Departments

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China’s national financial regulator has set up the Asset and Wealth Management Institution Supervision Department to oversee trust companies, insurers’ asset management subsidiaries, and banks’ wealth management subsidiaries. Photo: VCG
China’s national financial regulator has set up the Asset and Wealth Management Institution Supervision Department to oversee trust companies, insurers’ asset management subsidiaries, and banks’ wealth management subsidiaries. Photo: VCG

The national financial regulator’s efforts to get more functions each under its own roof will help the agency regulate with greater consistency and expertise, though there could be drawbacks for some of the new departments, regulatory officials and industry insiders told Caixin.

The new departments were revealed in a final plan, released in November, that outlined the National Financial Regulatory Administration’s (NFRA) responsibilities and structure, which is part of China’s overhaul of its financial regulatory system.

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