China to create bank regulator

China is to create a banking watchdog which will take over the regulatory responsibility for 110 commercial bank from the People's Bank of China.

Source: International Herald Tribune

China will create a banking watchdog headed by Liu Mingkang, the Bank of China president who earned plaudits for tackling three corruption investigations and selling $2.6 billion in shares, a central bank official said Tuesday.

The China Banking Regulatory Commission will take over supervision of 110 commercial lend