Reform plan to plug loopholes, promote cooperation among regulators

Centralization or decentralization? That could be the top-most concern for financial regulators over the next five years. There are no doubts that a stronger supervision system will emerge soon.

Debates still remain among officials and scholars on whether the central bank and the three other specialist financial regulators for banks, securities and insurance, should merge or restructure to re-identify their responsibilities.

The expected reform is aimed at avoiding supervision loopholes and promote cooperation among different regulators, as the integrated operation and more complicated financial products remain a trend among various financial service providers, said experts.