The Peoples Bank of China officially restores the provincial branch system

(Beijing/Shanghai Comprehensive News) The Central Bank of China has officially resumed the provincial branch system, and the large -scale branches that have been operating for more than 20 years have become history.

Comprehensive Securities Times and Shanghai Securities News reported that the People's Bank of China held a listing ceremony in a branch of 31 provinces (autonomous regions and municipalities) on Friday (August 18) to restore the provincial branch system.

The original nine branches of the People's Bank of China are Shanghai, Tianjin, Shenyang, Nanjing, Jinan, Wuhan, Guangzhou, Chengdu, and Xi'an Branch;

According to the reform plan of the Chinese State Council's institutional institution, the central bank will return from the current branch to the provincial branch system, revoke the above -mentioned branch agencies, and set up provincial branches in 31 provinces (autonomous regions, municipalities).Ningbo, Qingdao, and Xiamen have set up a planned single -column branch; the Beijing Branch of the People's Bank of China retains the brand management department of the business management department, and the Shanghai Branch of the People's Bank of China and the Shanghai Headquarters Office.

According to reports, the settings of large -scale branches are to enhance the independence of monetary policy at the local level and reduce the intervention of local governments in formulating monetary credit policies and bank supervision by local governments.

However, the report quoted the central bank's branch institutions saying that the management radius of cross -provincial branch management was too large, and it was difficult to compatible with different places in different places in different places.Differentiated by different regions.

The listing of provincial branches is part of the reform of the central bank's institutional institution. This round of reform also involves the divestiture of some regulatory functions at the head office.Standardized management, etc.The relevant plan is expected to land before the end of the year.