| 国家金融监督管理总局 | |
 | |
 Headquarters | |
| Agency overview | |
|---|---|
| Formed | March 10, 2023 |
| Preceding agency | |
| Jurisdiction |  People's Republic of China |
| Headquarters | Beijing |
| Agency executive |
|
| Parent agency | State Council |
| Website | www |
The National Financial Regulatory Administration (NFRA) is a regulatory agency, under the State Council of the People's Republic of China. It is responsible for overseeing the financial sector (including banking and insurance) in China, except securities.
The NFRA was established on 10 March 2023 to replace the China Banking and Insurance Regulatory Commission (CBIRC), also taking over some roles from the People's Bank of China (PBC) and the China Securities Regulatory Commission (CSRC). On May 10, 2023, Li Yunze was appointed as the Chinese Communist Party committee secretary of the NFRA. [1] On May 19, 2023, Li was appointed as the director of the NFRA. [2]
The NFRA oversees regulatory supervision, including the enforcement of financial laws and regulations, of nearly all parts of the financial industry except securities, which are instead managed by the CSRC. [3] In total, it will oversee US$58 trillion of banking and insurance assets. [4] [5]
The NFRA has 27 departments, one more than the former CBIRC. [6] It is planned to absorb around 1,600 county-level branches of the People's Bank of China; the PBC had 1,761 such branches at the end of 2021. [7]
| Name | Chinese name | Took office | Left office |
|---|---|---|---|
| Li Yunze | 李云泽 | 19 May 2023 |
The People's Bank of China is the central bank of the People's Republic of China. It is responsible for carrying out monetary policy as determined by the People's Bank Law and the Commercial Bank Law.
The China Securities Regulatory Commission (CSRC) is a government agency directly under the State Council of the People's Republic of China. It is the main regulator of the securities industry in China.
The Ministry of Finance of the People's Republic of China is the constituent department of the State Council of the People's Republic of China which administers macroeconomic policies and the annual budget. It also handles fiscal policy, economic regulations and government expenditure for the state. The ministry also records and publishes annual macroeconomic data on China's economy. This includes information such as previous economic growth rates in China, central government debt and borrowing and many other indicators regarding the economy of mainland China.
The Australian Prudential Regulation Authority (APRA) is a statutory authority of the Australian Government and the prudential regulator of the Australian financial services industry. APRA was established on 1 July 1998 in response to the recommendations of the Wallis Inquiry. APRA's authority and scope is determined pursuant to the Australian Prudential Regulation Authority Act, 1998 (Cth).
Beijing Financial Street (BFS) is where Chinese regulatory agencies are located. It is located inside Beijing's innermost 2nd Ring Road. According to the 13th 5-year plan, Beijing Financial Street will be positioned more towards a regulatory agencies' precinct.
Xiao Gang was the chairman of the China Securities Regulatory Commission from March 2013 until 20 February 2016. He was previously chairman of the board of directors of Bank of China Limited, of the Bank of China Limited, and deputy governor of the People's Bank of China, the central bank of the People's Republic of China. He has been credited for playing a crucial role in the reform of China's banking sector.
Qualified Domestic Institutional Investor, also known as QDII, is a scheme relating to the capital market set up to allow financial institutions to invest in offshore markets such as securities and bonds. Similar to QFII, it is a transitional arrangement which provides limited opportunities for domestic investors to access foreign markets at a stage where a country/territory's currency is not traded or floated completely freely and where capital is not able to move completely freely in and out of the country.
The Office of the Superintendent of Financial Institutions is an independent agency of the Government of Canada reporting to the Minister of Finance created "to contribute to public confidence in the Canadian financial system". It is the sole regulator of banks, and the primary regulator of insurance companies, trust companies, loan companies and pension plans in Canada.
The China Insurance Regulatory Commission (CIRC) was an agency of China authorized by the State Council to regulate the Chinese insurance products and services market and maintain legal and stable operations of insurance industry. It was founded on November 18, 1998, upgraded from a semi-ministerial to a ministerial institution in 2003, and currently has 31 local offices in every province.
The Financial Supervisory Commission is an independent government agency subordinate to the Executive Yuan of the Republic of China (Taiwan). It is responsible for regulating securities markets, banking, and the insurance sector.
The China Banking Regulatory Commission (CBRC) was an agency of the People's Republic of China (PRC) authorised by the State Council to regulate the banking sector of the PRC except the territories of Hong Kong and Macau, both of which are special administrative regions.
Guo Shuqing, also spelled as Kuo Shu-ching is a Chinese politician, banker, and financial regulator. He is currently serving as the chairman of the China Banking and Insurance Regulatory Commission.
Liu Shiyu is a Chinese banker and former public official. He was best known for his term as head of the China Securities Regulatory Commission between 2016 and 2018. Liu previously served as President of the Agricultural Bank of China from 2014 to 2016. He turned himself into the authorities for disciplinary violations in 2019, and was demoted given a party membership suspension. At the time, he was serving as Chairman of the All-China Federation of Supply and Marketing Cooperatives. Liu was the second ministerial-level official to hand in to anti-corruption authorities since the 18th National Congress of the Chinese Communist Party in late 2012.
Yao Gang is a Chinese executive who served as one of four vice-chairmen at the China Securities Regulatory Commission (CSRC), China's top security regulator. He was investigated by the Chinese Communist Party's anti-graft agency in November 2015, after a stock market rout rocked global markets. Yao's downfall marked the widened government crackdown on corruption in the financial industry. Zhang Yujun (张育军), former assistant chairman of the CSRC, was placed under investigation in the end of 2015.
Chinese shadow banking refers to underground financial activity that takes place outside of traditional banking regulations and systems. China has one of the largest shadow banking industries with approximately 40% of the country's outstanding loans tied up in shadow banking activities. Shadow banking in China arose after the People's Bank of China became the central bank in 1983. This encouraged commercial enterprises and private investors to place more of their money in financial products, causing the banking industry to grow.
The China Banking and Insurance Regulatory Commission (CBIRC) was an agency of the State Council of the People's Republic of China authorised to
The Financial Stability and Development Committee was a Chinese financial regulatory body under the State Council that existed between 2017 and 2023. During its existence, it was chaired by member of the Politburo of the Chinese Communist Party and vice premier Liu He.
Li Yunze is a Chinese state banker and politician currently serving as the Director of the National Administration of Financial Regulation. He served as a vice governor of Sichuan from 2018 to 2023.
The Tsinghua University PBC School of Finance, sometimes acronymized as Tsinghua PBCSF, is a graduate school within Tsinghua University in Beijing, sponsored by the People's Bank of China (PBC). It has been described as "a critical intellectual home for China's financial talents".
| Central bank | |
|---|---|
| Policy bank | |
| State Council commercial | |
| Nationwide commercial | |
| Urban commercial | |
| Regulatory agency | |
