Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Chinese Government Puts a New Leash on its Financial Sector

TheMotleyFool

0 0

Chinese Government Puts a New Leash on its Financial Sector: https://g.foolcdn.com/editorial/images/752538/featured-daily-upside-image.png

For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.

"To get rich is glorious," Deng Xiaoping proclaimed as China embarked on its path to hypercapitalism a generation ago. Under President Xi Jinping, it's less glorious than dangerous.

Beijing plans to establish a Central Financial Commission, which will act as a watchdog, decision-maker, and regulator for the country's $61 trillion financial sector, the Financial Times reported. Keep in mind: China already has a state securities regulatory commission.

Source Fool.com