China needs a super-watchdog

China needs an overarching financial regulator to help maintain financial stability as the country opens up its capital account.

China needs a super-watchdog

China needs an overarching financial regulator to help maintain financial stability as the world’s second-largest economy opens up its capital account to the world.

Roller-coaster markets, bungled attempts to prop up prices, and mixed policy messages illustrate why a unified body is urgently needed.

A super-regulator could be created by merging the country’s three main financial regulators for securities markets, banking and insurance under the control of the central bank. This would...

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