Greater accountability for regulators needed: Xi

Shanghai

CHINA'S central bank will take on a bigger role in macro-prudential management and in averting systemic risk in the financial system, President Xi Jinping said at a once-in-five-years government work conference that ended on Saturday.

Financial security is a vital part of national security, Mr Xi said at the fifth National Financial Work Conference, adding that China will strengthen the Communist Party's leadership in the financial sector.