The China Banking and Insurance Regulatory Commission (CBIRC) was an agency of the State Council of the People's Republic of China authorised to
5-571: The commission was replaced by the newly formed National Financial Regulatory Administration in May 2023. The CBIRC was established in April 2018 by a merger of China's banking and insurance regulators, namely, the China Banking Regulatory Commission (CBRC) and China Insurance Regulatory Commission (CIRC). It supervised and managed China's banking and insurance sectors, participated in
10-641: The National Administration of Financial Regulation . This article about government in the People's Republic of China is a stub . You can help Misplaced Pages by expanding it . National Financial Regulatory Administration The National Financial Regulatory Administration ( NFRA ) is the financial industry regulatory agency of China, under the State Council of the People's Republic of China . It oversees
15-499: The NFRA. On May 19, 2023, Li was appointed as the director of the NFRA. The NFRA oversees regulatory supervision, including the enforcement of financial laws and regulations, of nearly all parts of the financial industry except securities, which are instead managed by the CSRC. In total, it will oversee US$ 58 trillion of banking and insurance assets. The NFRA has 27 departments, one more than
20-461: The drafting of legislation and regulation relevant to those sectors, performed supervisory and management functions in those sectors, and conducting studies on the management of those sectors. As a result of these functions, it was also involved in regulating fintech and data security and privacy issues. It was abolished in March 2023 as part of a plan to overhaul government agencies, being replaced by
25-685: The entire financial industry (including banking and insurance) in China, except securities . The NFRA was established on 10 March 2023 to replace the China Banking and Insurance Regulatory Commission (CBIRC), also taking over some roles from the People's Bank of China (PBC) and the China Securities Regulatory Commission (CSRC). On May 10, 2023, Li Yunze was appointed as the Chinese Communist Party committee secretary of
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