China May Give Central Bank Key Role in Coordinating Financial Oversight

China is considering handing the nation’s central bank a key role in coordinating financial oversight, in order to focus efforts on reining in risk in the sector, people familiar with the discussions said.

The move, to be debated as part of the fifth National Financial Work Conference due to start on July 14, would create a new office for coordinating the nation’s three main regulatory bodies at the People’s Bank of China to be led by the institution’s governor, currently Zhou Xiaochuan, the people said, who asked not to be named as the matter isn’t public.

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