Mr Zhu is kidding others, probably.
Although it is fashionable to say that banking and finance industry need regulations now given the financial crisis, it is wrong to regulate the industry to such a degree to suffocate its innovation.
The industry in are many countries have been very sound, like in Australia. So there is little need to strengthen regulations there.
The financial system has a saient feature called"reflexivity".Most of the times we can't figure it out whether it is healthy. So, innovation must be put under reasonable regulations.
The question is how?