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China's sweeping overhaul: Merging regulators, creating new ministries

On Sunday, China removed presidential term limits from its constitution, giving Xi the right to remain in office indefinitely

Reuters  |  Beijing 

China said it will merge its banking and insurance regulators and create a new agricultural and rural village ministry, a parliament document released on Tuesday showed, among a number of proposed changes in the biggest ministry shake-up in years. China will also transfer some of the banking and insurance regulators' roles to the central bank, the document showed, in a long-awaited move to streamline and tighten oversight of the financial system in the world's second-biggest economy. Since the beginning of last year, Beijing has cracked down on leverage and risky market ...

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First Published: Tue, March 13 2018. 09:11 IST