Draft Financial Law of the People's Republic of China submitted for initial review by the Standing Committee of the National People's Congress

According to Xinhua News Agency, the draft of the Financial Law of the People's Republic of China was submitted for initial review by the Standing Committee of the National People's Congress on June 23. The law aims to fully regulate financial activities and crack down on illegal financial activities. On March 20, 2026, the Ministry of Justice, the People's Bank of China, the State Administration of Financial Regulation, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange publicly solicited opinions on the draft of the Financial Law of the People's Republic of China.