Banking and insurance regulatory merger hands PBoC more power

Noah Sin

March 13, 2018 09:15 am

pboc 230px. — People walk past the China's central bank or People's Bank of China in Beijing Tuesday, Aug. 11, 2015. China devalued its tightly controlled currency on Tuesday following a slump in trade, triggering the yuan's biggest one-day decline in a decade. (AP Photo/Andy Wong) | Andy Wong/AP/Press Association Images

China has brought its banking and insurance watchdogs under one roof, a move in line with its plans to consolidate government departments. The People’s Bank of China is set to gain an even broader mandate as a result of the change.

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Noah Sin