MNI BRIEF: China To Strengthen Control Of Financial Sector
Beijing will increase its oversight of the financal sector.
Beijing will prevent and resolve financial risks and promote the Party’s control of the financial sector to improve its “high-quality development,” according to the latest Politburo meeting Xinhua News Agency reported on Monday.
Chaired by President Xi Jinping, the meeting highlighted the Party Central Committee's "centralised and unified leadership" over financial work and called for strengthening comprehensive financial regulation. (See MNI INTERVIEW: China To Contain Property Spillover - Advisor)
In addition, the politburo stressed to develop further the central region of the country as an important grain, energy and raw material base, modern equipment manufacturing and high-tech industry center, and comprehensive transportation hub. The region should leverage its locational advantages, significantly improve the capacity for ensuring the supply of grain, energy, and resources, and ensure high-level security, the meeting noted.