What is China's planned financial stability law and how will it work?

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What is China's planned financial stability law and how will it work? - Business Standard

Quick Summary:

However, in 2022, China's banking regulator said the fund had initially raised 64.6 billion yuan ($8.89 billion) from financial institutions.

The law provides "a top-level design for systemic financial risk prevention and cross-agencies supervision", addressing the need for better coordination among different financial regulators and market participants to prevent systemic financial risks, analysts at Huatai Securities said in a report on Monday.

China's financial stability is also threatened by the $9 trillion debt amassed by local government financing vehicles (LGFVs), platforms created to fund local government projects.