It's still too earlier to know what the.......>

CHINA: It's still too earlier to know what the specific tasks of the newly

established Financial Stability and Development Committee will be, Li Yang,

former member of the monetary policy committee of the People's Bank of China and

current director of the National Institution for Finance and Development, said

Wednesday in Beijing. The FSDC was set up to streamline financial regulation and

coordinate the work of the central bank and other financial regulators over

China's banking, insurance and securities sectors. Li said the specifics of what

the FSDC will be tasked with accomplishing will not be known until the second

half of next year. Li noted that the PBOC's recently introduced regulations over

asset management products (AMPs) would take a few years to be fully implemented,

which he said would be a difficult task for the FSDC because many asset

management companies "have gone too far in an incorrect route."