January 26, 2018 / 4:38 AM / a month ago

China considering merging its banking and insurance sector regulators -Bloomberg

BEIJING, Jan 26 (Reuters) - China is considering a merger of its banking and insurance regulators, Bloomberg News reported on Friday, citing people familiar with the matter.

Government agencies under the direction of a Communist Party central reform group led by President Xi Jinping are drafting a plan that would combine the China Banking Regulatory Commission (CBRC) and the China Insurance Regulatory Commission (CIRC), Bloomberg reported without naming its sources.

The CBRC and CIRC could not be immediately reached for comment. (Reporting by Ryan Woo; Editing by Shri Navaratnam)

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