PBOC regulating financial system

The People's Bank of China will put more regulations in place on financial systems and institutional arrangements to guarantee financial safety, its deputy governor said at a forum over the weekend.

Chen Yulu, deputy governor of the central bank, said given the rapid development of finance technology, the construction of mechanisms for financial systems and institutional arrangements has higher requirements. Key areas include payment, credit information and financial statistics.

"We will formulate regulations on market access, operation and management of financial infrastructure," Chen said.