China's watchdogs' new unity makes them more effective

Financial regulators now have a common hymn sheet to sing from so will be more effective at pursuing Beijing's goals. This may set the scene for clashes with peers overseas.

President Xi Jinping cemented his position in 2017 as China’s most powerful leader since Mao Zedong. As a result, the country’s regulators are whipping its state-owned enterprises and privately run businesses into line behind his signature policies with renewed vigour.

Xi’s key policy goals include reducing risk in China’s financial system, massively increasing investment along ancient trade routes, and the acquisition of technology.

China's financial regulators including the People's Bank of China PBoC, China's Banking Regulatory Commission CBRC and China Securities Regulatory Commission CSRC collectively leapt into action in September after detecting a new threat to financial stability. They jointly issued a public notice banning unauthorised...

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