China has asked Britain for advice on plans to create a financial super-regulator, as it looks to improve financial oversight following last year’s stock market crash, sources with knowledge of the talks told Reuters. The discussions between representatives from China and the UK Foreign Office and Treasury highlight Britain’s burgeoning relationship with Beijing on financial issues, notwithstanding this week’s gaffe by Queen Elizabeth,
who was caught on camera grumbling that Chinese officials accompanying President Xi Jinping on a visit to the UK last year had been “very rude to the ambassador”. The talks signal Beijing’s growing willingness to seek outside help to improve regulation of its financial infrastructure, in a bid to increase transparency, reduce systemic risk, and stop companies exploiting loopholes. READ MORE
