StanChart Says China's New Committee a Positive Step

The transcript discusses the creation of a new cabinet-level committee in Beijing aimed at improving coordination among regulators to address regulatory arbitrage. The People's Bank of China (PBOC) is expected to play a significant role in the committee's operations. The establishment of this committee comes ahead of the 19th Party Congress, and while it is less aggressive than initially expected, it aims to enhance regulatory coordination without causing a regulatory vacuum.

What concerns might arise from having the PBOC at the helm of the committee?

What factors might influence the effectiveness of the new regulatory committee?