On August 25th, the second draft of the revised draft of China's Banking Supervision and Administration Law was submitted to the Standing Committee of the National People's Congress for review. The second draft added prohibitive provisions for banking institutions and employees to misappropriate customer funds, force bundling or bundling, illegally sell products beyond customer risk tolerance, and improperly collect payments. Chapter four was split into supervision and management measures and risk disposal chapters, clarifying the risk disposal responsibilities of central and local banks, increasing risk disposal authority, and stipulating the participation of deposit insurance fund management institutions in risk disposal methods.
