Harmonization of the regulatory framework with the recent international developments in this area, more specifically in the European Union, has continued to be an important priority of the CBK during this year, which caused the drafting of various regulations which advance different aspects of the banking regulation, such as: the Regulation of IFRS 9 Financial Instruments, and the Regulation on Non-performing Loans and Restructurings.
By so doing, we will safeguard financial stability and national economic and financial security, support the new systems for a higherstandard open economy, and promote the development of Shanghai as an international financial center. Thank you. 4/4  BIS central bankers' speeches