Caspian Energy Journal Caspian European Club
Tuesday, 17 November 2015 20:00

China mulls single 'super-regulator'

China is deliberating bringing together its banking, insurance and securities regulators into a single super-commission, sources told Reuters, following the summer's stock market crash that was blamed in part on poor inter-agency coordination, Caspian Energy News ( reports with reference to Reuters.

China's stock markets .CSI300 dropped by more than 40 percent between mid-June and August, forcing Beijing to take unprecedented measures to prevent a wider panic, embarrassing the government and delaying planned improvements to nascent derivatives and futures markets.

Three sources told Reuters it was the uncoordinated policy response that prompted senior leadership to begin internal discussions about merging the three main financial regulators, part of a broader goal to reform China's markets.

Industry insiders have expected a shake-up in the regulatory apparatus in the months following the crash, and sources told Reuters that Beijing had already begun exploring a replacement for China Securities Regulatory Commission (CSRC) head Xiao Gang

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