| ร | | A large national regulatory system | | | | | They are looking to do this by setting up a large national regulatory system that will take some of the responsibility away from their central bank, which is often overtaxed. The newly created entity will take over as the country's banking and insurance watchdog and will also look over all financial sectors other than the securities industry. The National People's Congress announced these plans on Tuesday this week and stated that the new financial body will oversee financial holding companies in the country that are currently the responsibility of the central bank.
They are looking to do this by setting up a large national regulatory system that will take some of the responsibility away from their central bank, which is often overtaxed. The newly created entity will take over as the country's banking and insurance watchdog and will also look over all financial sectors other than the securities industry.
The National People's Congress announced these plans on Tuesday this week and stated that the new financial body will oversee financial holding companies in the country that are currently the responsibility of the central bank. | | | | |
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