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China set up deposit insurance fund management company as financial risks climb

China's central bank set up a deposit insuarnce fund management company, it's latest move towards a market-oriented mechanism to dissolve increasing financial risks. It came at a time that market concerns spike after the financial regulator announced takeover of a regional commercial bank due to serious credit risks.

The People's Bank of China set up Deposit Insurance Fund Management Co. Ltd last Friday with registered capital of 10 billion yuan, according to China's corporate registration system.

It shows the legal representative of the company is Huang Xiaolong, deputy head of the financial stability bureau under . . .

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