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Financial sector reforms get a shot in the arm

By Sun Chao | China Daily | Updated: 2017-11-14 08:09

Two recent but separate developments show the Chinese authorities' resolve to expedite measures to curb financial risks after the 19th National Congress of the Communist Party of China.

Last week, securities regulators barred billionaire actress Zhao Wei and her husband from trading in the mainland stock market and also imposed fines on them, because there were irregularities in the disclosure they made in their bid to take over a company. And on Wednesday, the Financial Stability and Development Committee of the State Council, established in July, held its first meeting.

The two moves reflect that curbing risks in China's $40 trillion financial sector is high on the priority agenda of the authorities amid the increasingly intertwined business among banks, securities, brokerages, asset managers and insurers.

Financial sector reforms get a shot in the arm

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