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New Financial Super Regulator Opens

CHINA PRESS
MNI (BEIJING)

China has officially opened its new financial super regulator the National Administration of Financial Regulation (NAFR), according to the Securities Daily. Analysts interviewed said authorities can use the NAFR to deepen financial reforms and coordinate macro-control, and supervision. Regulators are now better equipped to supervise fast evolving financial technology and the digital economy, as well as protect consumer rights, the news outlet said. The NAFR will overcome the previous issue of fragmented supervision that led to regulatory vacuums and serve the real economy by eliminating regulatory arbitrage. Vice Premier He Lifeng attended the opening ceremony.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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