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China likely to supervise financial holding firms in H1, 2019

Xinhua Financein
2018-11-06 09:57

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China will strive to release measures of supervising the financial holding companies in the first half of 2019, the Xinhua-run Economic Information Daily quoted China's central bank as saying on Monday.

At present, China's central bank, People's Bank of China (PBOC) is conducting pilot supervision of five financial institutions, such as China Merchants Group, Shanghai International Group, Ant Financial Services Group and Suning Holdings Group.

The pilot supervision of the financial institutions of different types is aimed at making the upcoming measures more operational and applicable to companies in fields of both traditional finance and the new finance, according to Zhou Xuedong, a senior PBOC official. 
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