The Beijing government is drafting new rules to bring risk management and capital reserve requirements in line with commercial lenders, marking a further tightening of China's financial sector after a surge in growth meant regulators did not have a firm grip on the potential risks to the economy. These new regulations would apply to companies which have moved into two or more financial sectors such as the financial arms of Alibaba, Tencent and JD.com, as well as China Everbright Group an Ping An Insurance, Citic Group.
The Beijing government is drafting new rules to bring risk management and capital reserve requirements in line with commercial lenders, marking a further tightening of China's financial sector after a surge in growth meant regulators did not have a firm grip on the potential risks to the economy. These new regulations would apply to companies which have moved into two or more financial sectors such as the financial arms of Alibaba, Tencent and JD.com, as well as Ping An Insurance, Citic Group an China Everbright Group.