China is moving closer to unveiling its financial stability law, which includes setting up a fund to rescue troubled financial institutions, as part of Beijing’s broader efforts to prevent systemic financial risks in the world’s second-biggest economy.
A revised draft of the bill underwent a second review by the nation’s top legislative body, the National People’s Congress (NPC) Standing Committee last week. China’s legislative body usually passes a bill after a third review.
Here is what we know about the new law a