China Banking Regulatory Commission

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China Banking Regulatory Commission
Agency overview
中国银行业监督管理委员会

Jurisdiction	National
Headquarters	Beijing
Agency executive	Guo Shuqing, Chairman
Parent agency	State Council
Website	CBIRC Main Page

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. In response to their swelling debt loads, undercapitalization and non-transparent business practices, the government of China recapitalized the banks and set up the CBRC as the country's independent banking regulator in 2003. Liu Mingkang was appointed its first chairman and served until 2011, when he was replaced by Shang Fulin. In 2017, Shang was replaced by Guo Shuqing as the new chairman. ^[1]

Active in developing policies to promote financial inclusion, the Bank is a member of the Alliance for Financial Inclusion.^[2]

In April 2018, the China Banking Regulatory Commission was merged with the China Insurance Regulatory Commission to form the China Banking and Insurance Regulatory Commission.

References[]

^ China Names Guo Shuqing, a Rapid-Fire Regulator, to Oversee Troubled Banks. NY Times, 2017-02-27. Retrieved 2018-06-07
^ "AFI members". AFI Global. 2011-10-10. Archived from the original on 2012-02-20. Retrieved 2012-02-23.

External links[]

Official website

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China Banking Regulatory Commission

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