Chinas State Council Institutional Reform Plan: The State Administration of Fina

According to the Chinese State Council's proposal on reviewing the reform plan of the State Council's institutional institution, China will establish the State Administration of Financial Supervision and Administration, uniformly responsible for the supervision of the financial industry other than the securities industry, and no longer retain the Bank of China Insurance Supervision and Administration.

Xiao Jie, a Chinese State Councilor and Secretary -General of the State Council, on Tuesday (March 7) at National People's Conference Make an explanation of the reform plan of the State Council.

The State Administration of Finance and Administration will unify the supervision of the financial industry in addition to the securities industry, strengthen institutional supervision, behavioral supervision, functional supervision, penetrating supervision, and continuous supervision., Strengthen risk management and prevention and disposal, investigate and deal with illegal activities in accordance with the law, and serve as direct institutions of the State Council.

The State Financial Supervision and Administration Administration was established on the basis of the Bank of China Insurance Supervision and Administration Commission, and the daily supervision responsibilities of the People's Bank of China to financial groups such as financial holding companies, the protection of relevant financial consumer protection, China Securities Supervision and ManagementInvestors' protection duties of the committee have entered the State Administration of Finance and Administration.

The China Securities Regulatory Commission has been adjusted by the State Council's institutions directly under the State Council.Strengthen the duties of capital market supervision, and the entrepreneurial corporate bonds issued by the National Development and Reform Commission.

In terms of the reform of the local financial regulatory system, it will establish a local financial regulatory system based on the central financial management department and local dispatched institutions, and coordinate and optimize the setting of localist dispatching agencies and strength equipment for the central financial management department.

The regulatory duties of financial regulatory agencies established by local governments, no more brands such as the Financial Working Bureau and the Financial Office will not be added.

According to the bill, the reform of the branch of the People's Bank of China will be coordinated.Revisit the Division of the People's Bank of China branch and branch business management department, the business management department directly under the head office, and the provincial capital city center branch.Single row branches.

The Beijing Branch of the People's Bank of China retains the brand management department of the People's Bank of China.The People's Bank of China (city) branch is no longer retained, and the relevant functions are collected to the People's Bank of China (city) central branch.

The bill also refers to the improvement of the state -owned financial capital management system. In accordance with the relevant management provisions of state -owned financial capital investors, the market operating institutions managed by the central financial management department are stripped off, and relevant state -owned financial assets are assigned to state -owned financial capitalThe trustees management agency shall fulfill the duties of investors in accordance with the authorization of the State Council.

The reform of the financial sector also includes strengthening the unified and standardized management of the staff of the financial management department.The People's Bank of China, the State Administration of Financial Supervision and Administration, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and its branches and dispatched institutions use administrative preparation. The staff will be included in the unified and standardized management of national civil servants, and the salary standards for national civil servants will be implemented.