Fete fight against financial risks

The authorities are demonstrating their firm determination to eradicate corruption in the financial sector and prevent financial risks through an intensified crackdown on malpractices and those who violate the rules.

The tightened supervision over financial, securities and insurance regulators and some big State-owned banks over the past year, reflects the resolve of decision-makers to set up an orderly capital market and keep continued high pressure on any violations of the rules.

The investigation of Xiang Junbo, who was chairman of the China Insurance Regulatory Commission, in early April is believed to have signaled an intensified effort to curb corruption in the financial sector.