China takes fresh steps to rein in financial sector risk

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Five regulators including the PBoC have jointly released standardised rules on asset management

China has broadened its clampdown on financial risk by standardising regulations in the asset management industry.

On November 17, five top regulatory bodies – the People’s Bank of China (PBoC) and the regulators overseeing banking, securities, insurance and foreign exchange – jointly issued the guidance.

This is the first set of rules issued jointly by the authorities following the formal establishment earlier this month of the state council’s financial stability and development committee

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