China's Financial Stability and Development...>

CHINA: China's Financial Stability and Development Committee under the State

Council, which was established to coordinate the work of financial regulators,

convened for the first time in the last few days, the Xinhua News Agency

reported Wednesday night. The meeting was led by Vice Premier Ma Kai, indicating

the committee has higher political standing than the individual financial

regulators: the People's Bank of China, the China Banking Regulatory Commission,

the China Securities Regulatory Commission, and the China Insurance Regulatory

Commission. The meeting stressed the committee would continue China's prudential

monetary policy, strengthen coordination of financial regulation, enhance risk

controls, ensure the financial sector supports the real economy, protect

financial stability, and safeguard the rights of consumers in their financial

transactions, the report said. (Xinhua).