Published: 4:34pm, 4 Sep, 2016 Updated: 2:54pm, 20 Jul, 2018
The People 's Bank of Finance is expanding its role to become a " super regulator " to oversee the country 's banking , securities and insurance markets . If the joint venture with the China securities Regulatory Commission is approved by the State Council , the new super financial watchdog will streamline the approval process for the country 's 50 trillion yuan ( $ trillion ) securities market , as well as instil discipline , investigate market irregularities , curb securities fraud and target and punish those who breach ethics .