March 28, 2018 / 10:57 AM / a year ago

China's top leadership approves new asset management regulation -state media

BEIJING, March 28 (Reuters) - China’s President Xi Jinping and other top officials met to discuss and approve new regulation for the country’s asset management sector, state radio reported on Wednesday.

The radio report said the officials said new rules should offer unified standards for regulatory oversight and offer equal market access and supervision but did not offer further details, including what the new rules will call for.

The officials also approved new rules on non-financial sector’s investment in financial companies, the report said without elaborating further.

Reporting by Se Young Lee and Lusha Zhang; Editing by Richard Borsuk

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