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CBIRC Vows to Improve Regulatory Ability in 2021

CHINA PRESS

The China Banking and Insurance Regulatory Commission aims to improve its regulation of high-risk agencies as a way of supporting China's development, the regulator said after its annual work meeting on Wednesday. The CBIRC will curb monopolies and unguided capital expansion by fintech companies, while also strengthening supervision over shadow banking, the statement stressed. The CBIRC will accelerate the disposal of non-performing assets and strictly regulate high-risk institutions to stabilize the macro leverage ratio, the statement said.

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