China Lawmakers Consider Extending Bking Supervisor Power
BEIJING -(Dow Jones)- China’s national legislature started deliberations Friday on revisions to the country’s banking regulatory law, a move that could broaden banking regulatory powers to include non-financial institutions and individuals, the official Xinhua News Agency said in a brief report.
The revisions could add power to China’s primary financial watchdogs, the China Banking Regulatory Commission and the People’s Bank of China.
Revisions to Chinese laws are often a long and drawn out process. China’s corporate bankruptcy law was approved in August by the Standing Committee of China’s National People’s Congress after 12 years of drafting and deliberation.