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People's Daily Online>>China Business

Risk high on agenda of financial meeting

By Wang Xiaotian and Li Xiang (China Daily)

14:24, January 04, 2012

The headquarters of the People's Bank of China in Beijing. Analysts suggest that the financial regulation under the framework of the central bank and three financial regulators be improved. (Photo / China Daily)

BEIJING - Risk control is expected to be a chief topic during the approaching two-day National Financial Work Conference, and a new financial State-owned assets regulator is expected to serve that purpose, analysts said.

Ba Shusong, a researcher at the State Council's development research center, said the conference on Friday and Saturday is likely to focus on managing and resolving financial risks in the post-crisis era, as the European sovereign debt crisis worsens and the global economy faces the risk of a double-dip recession.

The conference has convened every five years since 1997. It is widely seen as an event that sets the tone for financial reforms and formulates multi-year plans for the entire financial system, including the creation of new institutions.

A plan to set up a financial State-owned assets supervision and administration commission, which would operate at the ministry level as both an investor and a regulator of the financial sector, has already been approved by the State Council, or cabinet, the Beijing-based China Times reported on Tuesday, citing an anonymous source.

The existing regulator, the State-owned Assets Supervision and Administration Commission, doesn't have jurisdiction over financial institutions.

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ttt at 2012-01-04117.242.144.*
chinese banks their central banks should work round the clock in fact government systems should never sleep for the people i have not seend any democracy in the world able to remove poverty through democracy then why we talk about democracy except britain which country has progressed through democracy no body

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