Financials Nov 25, 2020 10:32 AM (GMT+8) · EqualOcean
This morning, the regulations of Beijing Municipality on local financial supervision and Administration (Draft for the second deliberation) was submitted to the 26th meeting of the Standing Committee of the 15th Municipal People's Congress for deliberation. In order to promote the healthy development of the financial industry, the second review of the draft proposed that no unit or individual may establish a local financial organization or engage in the business activities of a local financial organization in a disguised form without permission. In addition, the municipal and local financial supervision departments can provide a safe and controllable small-scale test environment for innovative financial products.

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