The People’s Bank of China says the new law is needed to clean up the framework used to manage risks in the financial system. Bloomberg
China’s draft financial stability law takes aim at ‘scattered’ rules governing systemic risks
- The People’s Bank of China (PBOC) says existing legal framework ‘lacks overall design and cross-industry and cross-departmental arrangement’
- New law will be ‘credit positive’ for Chinese financial institutions because it will provide a legal framework to reduce risks, Moody’s Investors Service says
The People’s Bank of China says the new law is needed to clean up the framework used to manage risks in the financial system. Bloomberg
