China Business & Economy

China Tightens Foreign Access to Financial Data

China Tightens Foreign Access to Financial Data
A man walks past a Bank of China booth at the Main Press Center at the 2022 Winter Olympics in Beijing, on January 28, 2022. Fabrice Coffrin/AFP via Getty Images
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A Chinese banking watchdog is seeking to tighten its grip over financial data to avoid leaks to overseas banking supervisors. Financial experts believe this is part of the Chinese Communist Party’s (CCP’s) effort to cover up its economic secrets and the corruption of senior officials.

On Nov. 11, the China Banking and Insurance Regulatory Commission (CBIRC) issued a “draft request for comments” on amendments to the Banking Supervision and Regulation Act. The amendments increase restrictions on access to financial data, reported state-run media The Paper.
Kane Zhang is a reporter based in Japan. She has written on health topics for The Epoch Times since 2022, mainly focusing on Integrative Medicine. She also reports on current affairs related Japan and China.
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