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Chinese President Xi Jinping, left, and Premier Li Keqiang at the National People's Congress session in the Great Hall of the People in Beijing (Photo by Kosaku Mimura).
China People's Congress 2018

China reorganizes agencies to further centralize power

Insurance and banking regulators to be merged and new anticorruption body created

CK TAN, Nikkei staff writer | China

BEIJING -- The Chinese government unveiled its biggest reorganization in many years on Tuesday, regrouping a number of ministries and agencies and merging two key financial regulatory bodies.

The administrative revamp, expected to be voted on by the National People's Congress next Saturday, follows the rubber-stamp parliament's vote to remove presidential term limits on Sunday and underscores President Xi Jinping's efforts to centralize authority.

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