(Yicai Global) Nov. 28 -- Chinese regulators will expand its list of financial entities,  which may include lenders, insurers and brokerages, that are  significant to the country's economic stability, and suggest  restructuring if needed. 

The  government will set up new rules for some systematically important  financial institutions to lower the possibility of significant risks,  the policy document that was jointly released by the People's Bank of  China, China Banking and Insurance Regulatory Commission, as well as  China Securities Regulatory Commission. The mechanism is designed to  prevent the "too big to fail" phenomenon and over 50 entities have  already signed up as nominees, online news outlet Eastern Fortune  Network reported. 

On  the occasion of risks, the government will treat those institutions in a  special way to ensure a safe, rapid and effective management of issues  while aiming to keep their key businesses and services up and running as  usual.

The  central bank and other regulators will choose the targeted financial  entities. This selection will need a confirmation from the Financial  Stability and Development Committee, which is a government body under  the State Council, the highest organ of state power. The list will be  reviewed every three years. 

The  CBIRC and CSRC will monitor the chosen companies daily. They and PBOC  will assess their risks and the central bank may propose restructuring  measures if necessary. 

Editor: Emmi Laine