China to Evaluate Adjusting Share of State-Owned Capital in Finance Industry, Vice Minister Says

China will “thoroughly study and adjust the proportions” of state-owned capital in the country's financial industry, Vice Finance Minister Liao Min said Tuesday, in response to concerns by the country's top legislature over the disproportionately large share in the banking sector.

Liao made the remarks during a presentation to the National People's Congress Standing Committee (NPCSC) while detailing research and rectification measures. The remarks came about six-month after the top legislature reviewed and delivered opinions on a report by the State Council, China's cabinet, about the status of the country's state-owned financial assets in October 2023.