China’s State Council moves to revise central bank law in sweeping financial overhaul
China's State Council has approved a draft revision to the People's Bank of China Law as part of a financial overhaul. This revision aims to address regulatory gaps and enhance financial stability by extending oversight to major shareholders in the banking sector. The move reflects Beijing's commitment to tightening control over a financial system facing significant risks.
- ▪The draft revision targets regulatory gaps in China's financial system.
- ▪It aims to strengthen the regulatory framework for banking and protect citizens' assets.
- ▪The revision will extend banking supervision to include major shareholders and controllers.
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China’s State Council moves to revise central bank law in sweeping financial overhaul The draft revision to the People's Bank of China Law aims to plug regulatory gaps, strengthen financial stability, and extend oversight to major shareholders in the banking sector. Share Add us on Google by Editorial Team May. 21, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); China’s State Council, the country’s top administrative body, has…
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