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China's regulatory restructuring targets conflicting roles

Rise of fintech and local government financial risk highlights need for overhaul

| China
China's reorganization of its financial regulatory agencies will clarify the roles of various players, including the People's Bank of China, the central bank.   © Reuters

Meijun Qian is the academic dean and professor of finance at Zhejiang University International Business School and a fellow of the Wharton Financial Institution Center at the University of Pennsylvania.

Against the backdrop of Xi Jinping's appointment to a record third term as China's president, the country's recently announced reorganization of its financial regulatory agencies may have appeared to Western observers as overreach by an increasingly powerful central government.

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