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CHINA'S banking regulator vows to crack down on the country's shadow banking Wholesale AC Milan Jersey , and will work on a unified regulation with other financial authorities to better supervise wealth management products, Guo Shuqing, the new chairman of the China Banking Regulatory Commission said today.


""Because banks, trust firms Wholesale Manchester United Jersey , fund management companies, brokerages and insurers all have asset-management business but there are different regulators and regulations reining on them, there has been some chaos,” Guo said when he made his debut as the chairman of CBRC during a media conference in Beijing.


Guo noted that CBRC is studying on a set of joint regulation for asset-management products Cheap Real Madrid Jersey , in a bid to set a basic standard for each institution, while each regulator, including the country's insurance regulator and securities regulator, could set higher standards based on conditions.


""We hope to improve transparency and expose the financing hidden in the shadows Cheap Sevilla Jersey ,” Guo said.


Guo denied earlier market speculation that he would lead a unified super-regulator. However he said that a joint movement made by the CBRC, the central bank, and the securities and insurance regulators to curb risks of the country’s shadow-banking sector is one of the major tasks at present.


The 60-year-old Guo was official appointed the head of CBRC yesterday after leaving the post of governor at Shandong Province.


Liu Shiyu, head of China Securities Regulatory Commission Cheap Tottenham Hotspur Jersey , and Xiang Junbo, top of China Insurance Regulatory Commission, both held media conference with crews in Beijing last week, sending out signals of tightening up measures on market misbehaviors.

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China's Liaoning aircraft carrier leaves Hong Kong after five-day visit


Amazing scenery of Hukou Waterfall of Yellow River


One-month-old hippo cub meets with public in E China's Shandong


People of Miao ethnic group celebrate rain praying festival in SW China's Guizhou


Sea of flowers attract visitors in NE China's Harbin


Number of Tibetan antelopes rises to over 200 Cheap Manchester City Jersey ,000 at Changtang in Tibet


Blooming cole flowers attract tourists in NW China's Xinjiang


China's Qinghai Hoh Xil enters world heritage list as natural site


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