Study on Local Financial Market Development and Supervisory Framework

Specific details of the measures that were adopted, and the timing of their adoption provide a useful practice advice for future policy support through TAs. The TCR reported that the policy recommendations were accepted by the FAOL and were being incorporated into the revised rules and in the regulatory framework for local financial markets in the PRC. It would be useful to expand on this to share knowledge of the time and process required to achieve these intended results.