China said it will merge its banking and insurance regulators, according to a parliament document released last Tuesday.
China will transfer some of the banking and insurance regulators’ roles to the central bank, the document showed.
The official publication of China’s central bank announced today that Guo Shuqing has been appointed head of the new regulator for the banking and insurance sectors.
Guo had been the head of the China Banking Regulatory Commission, which was merged with the China Insurance Regulatory Commission as part of a broader government reshuffle approved by parliament last week.
Caixin reported the appointment on Wednesday.