It is time for China’s leaders to recognize that its regulatory framework – and, in particular, its approach to regulating the capital market – is no longer tenable, and to pursue a major regulatory restructuring. One option that has been proposed would be to create a single super-regulator, like the Financial Supervisory Committee that was established in South Korea after the 1990s Asian financial crisis.
中国领导人应该认识到，其监管框架——特别是其监管资本市场的方法——已不再合适，必须实施重大监管重组措施。一种已经提出的选择是成立单一的超级监管者，类似于20世纪90年代亚洲金融危机后成立的韩国金融监督委员会。不管是否成立这一机构，改善各部门合作渠道也将至关重要。