The unveiling of the State Administration of Financial Management marks the financial

The newly established China's highest financial regulatory agency MDash; MDash; the State Administration of Finance and Administration of China officially unveiled on Thursday (May 18), marking the new pattern of the Chinese financial supervision system into a group of games.

According to China Network, the State Administration of Finance and Administration (General Administration of Financial Supervision) is located at No. 15, Beijing Financial Street, and the office address of the former Bank of China Insurance Supervision and Administration (Banking Regulatory Commission).He Lifeng, Deputy Prime Minister of the State Council of China, Yi Gang, President of the Central Bank of China, Guo Shuqing, Secretary of the Party Committee of the Central Bank, Yi Hui Man, Chairman of the CSRC, and Li Yunze, the first party secretary of the General Administration of HKMA, attended the unveiling ceremony on Thursday morning.

At the same time, the official website and WeChat public account of the former CBRC were renamed the State Administration of Finance and Administration.At this point, it was established in April 2018, and the CBRC, which has been running for five years, officially entered history.

In March of this year, China announced the reorganization plan of the State Council. One of the most important announcements was to set up the General Administration of Financial Supervision on the basis of the China Banking Regulatory Commission to unify the supervision of the financial industry other than the securities industry.In addition to the original functions of banking, insurance, and trust companies under the jurisdiction of the Banking Insurance Regulatory Commission, the official also divided the central bank's regulatory duties of financial groups, financial consumer protection duties, and the protection duties of investors' protection of the Securities Regulatory Commission.

After the reorganization, a party and two sessions, which were previously composed of the Central Bank, the CBRC and the Securities Regulatory Commission, became one for a while.

Li Yunze, the former executive deputy governor of Sichuan Province, who has long worked in the banking system for a long time, was appointed as the secretary of the Party Committee of the General Administration of Financial Supervision last Wednesday (10th), becoming the first post -ministerial -level official in China.Li Yunze, 52, is a native of Yantai, Shandong. He has 25 years of banking experience and five -year financial deputy governor experience.

The unveiling ceremony on Thursday was also the first public appearance after Li Yunze was new.According to the First Financial Report, Li Yunze said in his speech that the General Administration of HKMA will comprehensively strengthen institutional supervision, behavioral supervision, functional supervision, penetrating supervision, and continuous supervision, and will fully implement the service real economy, prevent and control financial risks, deepen financial financial risks, deepen financial financeThe three highlights of the reform, all kinds of financial activities are included in the supervision according to law, strived to eliminate gaps and blind spots, vigorously promote the supervision of central and land, firmly adhere to the bottom line of no systemic financial risk, and build the Great Wall of Iron and Steel, which protects national financial security.

Fu Fangjian, an associate professor of Li Guangqian Business School of Singapore, was analyzed during an interview with Lianhe Morning Post. Li Yunze's speech showed that expanding the scope of supervision, prevention and control system risks, and serving the real economy are the main tasks of the General Administration of Monetary Supervision.This also reflects that because the regulatory mechanism could not keep up with the development of the times, it caused insufficient supervision of new formats, hidden risks, and increased corruption in the industry.

Fu Fangjian pointed out that under the long -term competition in China and the United States, the role of financial systems on national development and stability is becoming increasingly important.Recently, the domestic banking industry in Europe and the United States has frequently exploded, and it has also sounded the alarm for China's decision -making layer, prompting them to increase the supervision of the financial industry and take the risk of systems as the bottom line.

At the end of March, the General Administration of HKMA issued a document disclosed that this year it is expected to send about 2,000 banking institutions to inspect about 2,500 banking institutions; send about 800 non -bank institutions for inspection teams, check about 800 non -bank institutions; in major risks, in major risksIn terms of incidents and case disposal, about 23 cases are expected and about 40 cases of supervision and inspection are expected.

Dong Ximiao, chief researcher at Zhailian Financial, pointed out to the Chinese media that the General Administration of HKMA should further adjust and optimize departmental responsibilities and institutional settings to promote local dispatch institutional reforms;Financial supervision coordination mechanisms better prevent and resolve regional and systematic financial risks.