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PBOC Sets Out Draft Rules For Financial Infrastructure

CHINA PRESS
MNI (Singapore)

The People’s Bank of China issued draft rules on supervising and managing financial infrastructure to promote finance to better serve the real economy, according to a statement on the PBOC website. It will maintain absolute state control over financial infrastructure institutions that involve national security, and a security review shall be conducted for foreign investment that may affect national security, the statement said. It also barred anyone or institution from setting up any form of financial infrastructure without approval, or use “finance”, “exchange”, “trading center” and other approximate names. The draft is open for public comments.

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