The draft regulation from the People’s Bank of China will be finalised after feedback is received by late August. Photo: Bloomberg
The draft regulation from the People’s Bank of China will be finalised after feedback is received by late August. Photo: Bloomberg

China’s central bank issues draft rules on financial holding companies in move to rein in risk

  • Firms with two types of financial business must apply for licence within six months of regulation taking effect and have US$726 million registered capital
  • People’s Bank of China says ‘regulatory vacuum has led to risk accumulation and exposure’

The draft regulation from the People’s Bank of China will be finalised after feedback is received by late August. Photo: Bloomberg
The draft regulation from the People’s Bank of China will be finalised after feedback is received by late August. Photo: Bloomberg
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