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CHINA PRESS: China must effectively strengthen and improve financial supervision
and contain risks in the banking sector, the official People's Daily said in a
commentary on Thursday.
- To have effective financial supervision, regulators must have clear identities
and be unattached to the industry that it oversees: daily
- New draft rules on asset management jointly formulated by so-called "one bank,
three commissions" must be implemented despite industry opposition, People's
- Regulators must not become the "nanny" of the industry: People's Daily.
***TAKEAWAY: China's central authorities is drumming up tighter controls over
the financial sector and promoting the newly formed structure given elevated
status to PBOC, along with three regulators in securities, banking and