The China Securities Regulatory Commission's investor protection responsibilities are set to shift to the new financial regulator.'s responsibilities for protecting financial consumers and regulating finance holding companies and other groups are also set to shift to the new administrator.
Separately, the draft proposed the PBoC consolidate its local branches with greater central control, and changing the securities regulator's designation within the State Council from one Ma said he expects the new regulatory agencies would develop new approval processes for data-intensive internet companies wanting to go public overseas.
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