Completing rules regulating the.........>

CHINA PRESS: Completing rules regulating the financial sector, in particular

rules to tighten management of the asset management products (WMPs), is the most

important task for financial regulators this year, Liu Zhiqing, deputy director

general of the prudential regulation bureau of the China Banking Regulatory

Commission, said Saturday at a financial forum, the China Securities Journal

reported Monday. Liu noted 80% of banks' wealth management products pass

scrutiny under the new asset management regulation issued in mid-November by the

People's Bank of China. Banks should steadily reduce WMPs that do not qualify,

Liu said, adding that more specific rules needed to achieve the goals in the

PBOC regulation. (China Securities Journal)