Speculation is rife that China could create a "super regulator" at a major policy meeting this weekend as part of its efforts to curb risk in its financial system.
The gathering, called the National Financial Work Conference, occurs every five years and started in 1997 in the wake of the Asian financial crisis. The closed-door meeting of top Chinese finance officials has addressed ways to manage the country's financial system and help support economic growth. This year's conference is expected to focus on reining in risks and on improving coordination among regulators.
Chinese state financial paper, China Security Times, suggested that the current system of having one central bank and three regulatory agencies for banking, securities, and insurance, has entrenched interests which could present challenges.