What’s new: China’s top banking and insurance regulator vowed to prevent the disorderly expansion of capital in the financial sector and set up “traffic lights” for capital.
In its 2022 work meeting Monday, China’s Banking and Insurance Regulatory Commission (CBIRC) said the stop light for the financial sector aims to curb the use of funds by banks and insurers for “blind overleveraging,” financial monopolies and unfair competition, and unlicensed financial business.
