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China to Regulate Financial Market
The People's Bank of China (PBOC), China Securities Regulatory Commission (CSRC), and China Insurance Regulatory Commission (CIRC) lately held their 2nd Joint Conference to make a study into the work of financial supervision and management and their tasks in the near future.
A consensus reached was that the three parties as said should step up mutual exchange and cooperation as well as earnestly implement Premier Zhu Rongji's demand in his report to the Fourth Session of the Ninth National People's Congress (NPC) and the outline of the Tenth Five-year Plan (2001-2005). With necessary measures adopted, a normal financial market is to be developed.
Present at the Conference were Dai Xianglong, PBOC governor, Zhou Xiaochuan, CSRC chairman and Ma Yongwei, chairman of CIRC. It was also decided at the Conference, which was presided over by Zhou Xiaochuan, that the third Joint Conference is to be held in June.
As reported, the above three departments had their first Joint Conference held in the latter half of last year. A new conference may be called and held by turn when it is demanded by one of the three parties said.
By PD Online staff member Huang Ying
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