At around 2 pm on August 31, Chen Wenhui, the current first vice chairman of the China Banking and Insurance Regulatory Commission, bid farewell to the China Banking and Insurance Regulatory Commission who had worked for nearly half a year and the former China Insurance Regulatory Commission who had worked for 20 years, and officially took up the post of vice chairman of the National Social Security Fund.
The China Banking and Insurance Regulatory Commission, which was established after the abolition of the China Banking Regulatory Commission and the China Insurance Regulatory Commission in March 2018, determined three plans in August. In the setting of the chairman-level structure, the China Banking and Insurance Regulatory Commission, like other parts, follows the configuration of one principal and four deputy.However, under the current chairman Guo Shuqing, the China Banking and Insurance Regulatory Commission has seven vice-chairmen, among which Chen Wenhui ranks first.
Among the three vice-chairmen of the original CIRC, Chen Wenhui was the youngest.They are three and one year younger than Huang Hong and Liang Tao respectively.A number of people familiar with Chen Wenhui told Caixin reporters that Chen Wenhui has strong professional ability, understands business, understands supervision, and is good at coordination.After Xiang Junbo, the former chairman of the China Insurance Regulatory Commission, was sacked in April 2017, Chen Wenhui, as the vice chairman, was appointed to take charge of the overall work of the China Insurance Regulatory Commission.Since then, he has also played a professional role in the establishment of the China Banking and Insurance Regulatory Commission and cooperated with related work well. At the meeting of the establishment of the China Banking and Insurance Regulatory Commission, he was also affirmed and thanked by relevant leaders.
According to the three plans, the China Banking and Insurance Regulatory Commission has a total of 925 career establishments, which is about 12% less than the current 1,050 staff.
Chen Wenhui, who was born in 1953, is 55 years old. According to public information, in 1998, Chen Wenhui, then 35 years old, was transferred from the position of assistant to the general manager of the Fund Utilization Department of the People's Insurance (Group) Company of China to the head of the Insurance Intermediary Supervision Department of the China Insurance Regulatory Commission.For the next 20 years, Chen Wenhui has been working in the China Insurance Regulatory Commission. He has successively served as the director of the Personal Insurance Supervision Department, secretary of the Youth League Committee, assistant to the chairman, and vice chairman.
Chen Wenhui is recognized in the industry as a professional cadre who is proficient in the insurance industry and is upright.During the more than one year that he presided over the work of the former China Insurance Regulatory Commission, Chen Wenhui emphasized that he must always maintain a high-pressure situation to rectify the chaos of banking and insurance.He emphasized that the China Banking and Insurance Regulatory Commission will always adhere to the surname of supervision, resolutely implement the requirements of the reform of the financial regulatory system, effectively solve the overlaps and gaps in financial supervision, and gradually establish a modern financial regulatory framework.
Chen Wenhui has made many criticisms of the chaos in which the financial industry is separated from the entity and entertains itself.He said that in recent years, there have been some chaos and risks in the financial industry. One of the important reasons is that some financial system funds are circulating internally.It deviates from the natural law of the development of the financial industry and does not conform to the current situation of China's economic and financial development.
Regarding the insurance industry, Chen Wenhui, who has been in charge of the use of funds for many years, once pointed out that a small number of radical insurance companies have high liquidity risks, and some radical insurance companies do not have the concept of asset-liability matching in their operations., Abnormal surrender and maturity payment, etc., the cash flow is prone to problems.
A person close to the China Banking and Insurance Regulatory Commission told the Caixin reporter that Chen Wenhui's appointment to the National Social Security Fund will allow him to fully utilize his expertise in the insurance field in the operation of the Social Security Fund.
According to the data disclosed by Lou Jiwei, chairman of the social security fund, as of the end of 2017, the fund managed by the social security fund was 2,538.5 billion yuan, with an investment return rate of 9.68%; the investment return rate of basic pension insurance was 5.23%.Since the establishment of the social security fund, the accumulated investment income has reached 1,007.1 billion yuan, with an average annual investment return rate of 8.44%.According to the deployment of the State Council, in 2018, the state-owned capital will be fully transferred to enrich the social security fund.According to the estimation of operating state-owned capital stock, assets of 3 to 5 trillion yuan should be placed under the name of the National Social Security Fund.
Previously, the leadership team of the National Social Security Fund consisted of one principal and three deputy directors, with Lou Jiwei as chairman, Wang Ercheng as party secretary and vice chairman, and Wu Yan and Wang Wenling as vice chairman.Lou Jiwei was the former Minister of Finance, Wang Ercheng was parachuted into the National Social Security Fund by the Central Organization Department in 2007, Wu Yan was the former chairman of the People's Insurance Group, and Wang Wenling was an old man of the Social Security Fund.■
