Financial markets come under stricter scrutiny

BEIJING - China's top banking regulator has escalated efforts this year to put financial markets under stricter scrutiny to better guard the sector against risks.

By the end of November, the China Banking Regulatory Commission had imposed administrative penalties for more than 2,500 cases of irregularities in the sector, covering State-owned banks, joint-equity banks and city commercial banks, statistics from the Research Institute of Beijing Business Today showed.

Fines imposed on these banks totaled about 592 million yuan ($89.5 million) in the first 10 months, compared with 270 million yuan for all of 2016.