China must control financial risk as its markets open wider, regulatory body says

China must control financial risk as its markets open wider, regulatory body says
China must safeguard against financial risk as it prepares to open its markets wider to private and foreign investors, a regulatory body chaired by the country’s top economic adviser said on Saturday.“We must clean up all the financial mess and have zero tolerance for irregularities,” the Financial Stability and Development Committee (FSDC) said in a statement released online.“Our bottom line of no systemic financial risks must be defended,” said the agency, which is headed by Vice-Premier Liu…