China to Reform and Tighten Oversight of Financial Sector, Targeting Risks
• China's financial regulator NFRA will speed up reform of small and medium financial institutions to strengthen oversight.
• NFRA will collaborate with other agencies to tighten supervision over the financial industry beyond the securities market.
• NFRA will focus on "key people" and "behaviors" causing major financial risks.
• NFRA will encourage banks, insurers, and asset managers to adhere to their core functions.
• China's financial sector is generally stable, and NFRA is confident in its ability to respond to financial risks.