Chinese government hampering financial industry, World Bank warns

The Chinese government's role as both owner and regulator of China's financial institutions is the basis for most existing problems and potential risks in the country's financial system, the World Bank has stated.

In a report released on February 27, China 2030: Building a modern, harmonious and creative high-income society, the World Bank called on China to improve its regulatory system and remove conflicts of interest.

"In spite of laws that insist upon segregation among banking, securities an