August 20, 2013
Translated by Pang Lei

China's State Council has approved a plan to establish a new mechanism to coordinate financial regulation in the country, according to an announcement posted to the official government website earlier today.

The new system will allow the various existing regulators to meet and discuss broader issues and coordinate their work.

It will be led by the central bank. Other members of the joint conference will include the China Banking Regulatory Commission (CBRC), the China Securities Regulatory Commission (CSRC), the China Insurance Regulatory Commission (CIRC) and the State Administration of Foreign Exchange (SAFE).

When the situation requires, the National Development and Reform Commission (NDRC) and the Ministry of Finance (MOF) may be be invited to take part in meetings of the new body.

Links and Sources
Gov.cn:  国务院关于同意建立金融监管协调部际联席会议制度的批复