China accord on how to oversee banks

CHINA - China yesterday, Wednesday, put to rest months of divisive debate on whether a separate supervisory body should be set up to oversee its banking system, deciding that a new bureau within the existing central bank would be sufficient to do the job, official sources said.

The decision represented the first key issue to be resolved at an ongoing Central Financial Work Conference, which is due to set the reform agenda for China's financial system for the next five years.

Observers said the

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