| 国家金融监督管理总局 | |
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 Headquarters | |
| Agency overview | |
|---|---|
| Formed | March 10, 2023 |
| Preceding agency | |
| Jurisdiction |  People's Republic of China |
| Headquarters | Beijing |
| Agency executive |
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| Parent agency | State Council |
| Website | www |
The National Financial Regulatory Administration (NFRA, occasionally also referred to as the National Administration of Financial Regulation or NAFR) is a financial regulatory body under the State Council of the People's Republic of China.
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]
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 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.
A regulatory agency or independent agency is a government authority that is responsible for exercising autonomous dominion over some area of human activity in a licensing and regulating capacity.
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 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.
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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.
The Swiss Financial Market Supervisory Authority is the Swiss government body responsible for financial regulation. This includes the supervision of banks, insurance companies, stock exchanges and securities dealers, as well as other financial intermediaries in Switzerland. FINMA's name and acronym are usually expressed in English so as to avoid the semblance of favouring any one of Switzerland's linguistic regions.
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom which operates independently of the UK Government and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom.
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.
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