BEIJING Feb 22 China plans to overhaul its
securities regulator, merging some departments and creating four
units to fill existing gaps, as it looks to reduce unnecessary
red tape and create more effective oversight of its
The China Securities Regulatory Commission (CSRC) will merge
departments overseeing areas from initial public offerings
(IPOs) to futures trading, as well as boosting its oversight of
illegal trading activity.
China is looking to attract increased investment in its
domestic markets, long plagued by concerns over inefficiency,
regulator meddling and a lack of transparency.
The process of restructuring will help the regulator get rid
of overlapping departments and fill current "vacuum" areas which
are not sufficiently covered, CSRC spokesman Deng Ge said at a
news conference on Friday.
The merged departments include those overseeing funds, share
issuance, IPOs and futures trading, while the four new units
will focus on regulating corporate debt, private equity funds,
innovative business and illegal securities and futures trading.
(Reporting by Zhang Xiaochong and Koh Gui Qing; Writing by Adam
Jourdan; Editing by Robert Birsel)