China regulator to step up supervision of financial activities on internet platforms

China Banking and Insurance Regulatory Commission also said it would push large banks to provide risk management tools and models to smaller banks

  
An employee hands over U.S. dollar banknotes to a customer at a branch of Bank of China in Hefei

An employee hands over U.S. dollar banknotes to a customer at a branch of Bank of China in Hefei

REUTERS/Stringer Shanghai

BEIJING- China's banking and insurance regulator said on Wednesday it would strengthen supervision over financial activities carried out by banks and insurers with internet platforms.

In a statement issued after an annual work meeting, the China Banking and Insurance Regulatory Commission also said it would push large banks to provide risk management tools and models to smaller banks.

(Reporting by Cheng Leng and Tom Daly; Editing by Andrew Heavens) ((tom.daly@thomsonreuters.com; +86 10 5669 2119;))

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