China issues draft rules to regulate financial holding companies' related transactions
Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China on Sep 28, 2018. (File photo: Reuters/Jason Lee)
SHANGHAI: China's central bank issued draft rules on Tuesday (Aug 30) to regulate related transactions of financial holding companies.
Such transactions must conform to rational commercial principles, be backed by genuine businesses and be priced fairly, the People's Bank of China said in a statement.
In addition, the transactions should be transparent, according to the draft rules.
Source: Reuters/st
