A recent article in the People's Daily says Guo Shuqing, chairman of the China Banking Regulatory Commission, stated that when discussing financial risks, "through complex structures, fictitious investment, and circular capital injection, a small number of lawless elements have illegally established huge financial conglomerates. This has caused serious obstacles for financial reform and for the maintenance of the security of the banking system; therefore it must be severely dealt with according to law ". It is noteworthy that the phrase "lawless elements" reflects the latest view of the financial regulatory authorities.