PBoC issues draft rules to set up unified regulatory system for local financial supervision and administration

China’s regulators may have financial risks at the national level under control, but the various scandals that have erupted over the last few years at the local level – involving small banks, trust companies, and illegal lending schemes – illustrate that they do not have a good enough grasp of what’s going on in the provinces…

This is premium content. Subscribe for access, or login below.