Committee to coordinate fiscal policies

Specific path new regulator will take is still being worked out by officials

The newly established national financial regulatory body is designed to be the top-level executor and coordinator of the State Council's macroeconomic policies rather than to only safeguard the inflated financial sector, according to experts directly involved in the committee's preparatory work.

The priority task of the Financial Stability and Development Committee, which debuted earlier this month with Vice-Premier Ma Kai as the head, is to effectively implement and coordinate economic and financial policy decisions made by the State Council, Chen Daofu, deputy director of the Research Institute of Finance under the State Council's Development Research Center, told China Daily in an exclusive interview.