New powerful financial institution launched in China

Asia China

A new powerful financial institution has been formed in China. Named the National Financial Stability and Development Committee, it will have decision-making prerogatives and will supervise other regulatory agencies in China.

The new committee will help centralize and coordinate the efforts of existing agencies as they strive to meet the economic growth goals set by China’s 13th Five-Year Plan.

Some sources claim that one of Chinas main aims is to modernize its economy and that The National Financial Stability and Development Committee was formed in preparation for the authorities to tackle cryptocurrencies.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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