State Council to Better Supervise China's Banking Industry

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Last updated at: (Beijing Time) Thursday, August 07, 2003

State Council to Better Supervise China's Banking Industry

Some draft amendments on better supervision over the country's banking industry were passed Wednesday at an executive meeting of the State Council, China's highest governing body.

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Some draft amendments on better supervision over the country's banking industry were passed Wednesday at an executive meeting of the State Council, China's highest governing body.

Members of the State Council found that amending the laws will help to promote the development and reform of the country's financial sector.

The State Council will file the drafts to the Standing Committee of the National People's Congress, China's top legislature, after further revisions.

State Council members also examined and approved in principle the draft Provisions on the Central Management of Grain Reserve, which will be promulgated and enacted by the State Council soon.

The meeting also heard a report on promoting urban rail transportation, urging relevant departments to better control the quality of related projects and ensure safe construction and operation of the rail systems.

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