China’s Draft Financial Law and Key Regulatory Insights

China’s move toward a comprehensive Financial Law has developed quickly over several years. The concept was first officially proposed at the Third Plenary Session of the 20th Party Central Committee in July 20242 and was later reaffirmed by the State Council in November 2024 through its emphasis on advancing financial rule‑of‑law legislation. In March 2026, the Standing Committee of the National People’s Congress (“NPC”) confirmed that enactment of the finance and financial stability law would... By: WilmerHale