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China bank watchdog to tighten risk control amid regulatory shake-up

Reuters  |  SHANGHAI 

SHANGHAI (Reuters) - China's banking regulator will tighten control over risks in the financial markets, work more closely with the central bank and other regulators, and "resolutely follow" the leadership of a newly-formed financial stability committee, it said late on Monday.The China Banking Regulatory Commission's comments come after President Xi Jinping said on Saturday that the central bank would take a bigger role with a Financial Stability and Development Committee to be set up under the State Council.Beijing sees financial security as a vital part of national security and has been ...

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First Published: Tue, July 18 2017. 06:01 IST