NPC-mandated changes to impact China's financial regulators and assets

With the onset of China''s National People''s Congress last week, policy-making is once again entering that peculiar period of intense behind-the-scenes activity combined with public ''no comments'' on important policies.

One of the most important decisions to be taken at China's ongoing National People's Congress NPC will be the restructuring of state assets through the creation of a state asset management committee, which would take over the ownership rights of the assets. What has caused some delays is how to deal with the state’s financial assets as a sub group of the national assets.

Financial assets, represented by stakes in banks and securities and insurance companies, were until recently under the control of two bodies. The Ministry of Finance owns the assets and oversees disbursements and profits. The Central Financial Working Committee CFWC used to oversee and appoint personnel but the CFWC has...

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