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Financial Sectors to Enhance Cooperation
China's banking, securities and insurance authorities will step up coordination in supervising the financial sector so as to resolve problems in the current supervision system, according to a national meeting held in Shanghai Saturday.
Governor of the People's Bank of China Dai Xianglong, Chairman of the China Securities Regulatory Commission Zhou Xiaochuan and Chairman of the China Insurance Regulatory Commission Ma Yongwei made the remarks at the China Finance Development Strategy Forum.
They said that the central bank and securities and insurance authorities should hold business discussions on a regular basis. They will increase the exchange of information to resolve the existing problems in the current system of separate supervision of banking, securities and insurance sectors.
This will facilitate the expansion of these business sectors, they said.
Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) Jing Shuping and Shanghai Mayor Xu Kuangdi also attended the meeting sponsored by the Shanghai municipal government.
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