The China Banking Regulatory Commission, the banking industry watchdog, has set up a bureau to protect the rights of financial services consumers, the China Securities Journal reported on Aug 20.
The CBRC has also approved the establishment of branches of the bureau in various localities, said Yan Qingmin, assistant chairman of the CBRC.
The establishment of the bureau is part of the government's efforts to improve the commission's supervision system.
The government aims to boost risk control supervision, urging commercial banks to consolidate capital management, enhance consumer rights protection and accelerate the construction of information systems, Yan said.
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