What are the One Bank and Three Conferences

One Bank and Three Conferences: It is the domestic financial community’s response to the People’s Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission. These are the abbreviations of the four Chinese financial regulatory authorities. This name first originated in 2003. One bank and three commissions constitute the pattern of separate supervision of China's financial industry. One bank and three committees all implement vertical management.

People's Bank of China

The People's Bank of China was formed in 1948 on the basis of the merger of North China Bank, Beihai Bank and Northwest Farmers Bank. It is China's central bank and performs central bank business. Mainly responsible for formulating and implementing monetary policy. In 1983, the State Council decided that the People's Bank of China would exclusively perform the functions of the country's central bank. Including financial risk prevention and resolution, statistical data, bank cards, financial regulations, anti-counterfeit currency work, bulletin boards, etc.

China Banking Regulatory Commission

China Banking Regulatory Commission, referred to as China Banking Regulatory Commission, is the banking regulatory agency of the State Council. According to the authorization of the State Council, it unifies the supervision and management of banks and financial institutions. Asset management companies, trust investment companies and other deposit-taking financial institutions maintain the legality and sound execution of the banking industry. The China Banking Regulatory Commission has officially performed its duties since April 28, 2003. The process of the establishment of the China Banking Regulatory Commission and the clarification of responsibilities was also the process of professionalizing the responsibilities of the People's Bank of China. It was during this period that the division of responsibilities was clarified and refined. Formulate and promulgate regulations and rules for the supervision and management of banking financial institutions and their business activities in accordance with laws and administrative regulations.

China Securities Regulatory Commission

The China Securities Regulatory Commission, referred to as the China Securities Regulatory Commission, is an agency directly under the State Council and the competent authority for the national securities and futures markets. It performs administrative functions authorized by the State Council. , conduct centralized and unified supervision of the national securities and futures industries in accordance with laws and regulations, maintain the order of the securities market, and ensure their legal execution.

China Insurance Regulatory Commission

The People's Republic of China Insurance Regulatory Commission, referred to as the "China Insurance Regulatory Commission", was established on November 18, 1998. It is a department directly under the State Council. Level public institutions perform administrative functions under the authorization of the State Council, uniformly supervise and manage the national insurance market in accordance with laws and regulations, and maintain the legal and stable execution of the insurance industry.

What are the One Bank and Three Commissions?

The One Bank and Three Commissions are the abbreviations of Mainland China’s four financial management and supervision departments: the People’s Bank of China, the Banking Regulatory Commission, the China Securities Regulatory Commission and the Insurance Regulatory Commission. This term first originated in 2003. In April of that year, the China Banking Regulatory Commission, the latest of the "three meetings", was established. One bank and three committees constitute the pattern of separate supervision of China’s financial industry.

What are the four committees of the One Bank, Three Commissions and Four Commissions

The Fourth Committee of the People’s Bank of China, the Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission (i.e. the One Bank and Three Commissions) (Economic and Information Technology Committee, Municipal Urban and Rural Development and Management Committee, Municipal Commerce Commission, Municipal Development and Reform Commission)

What are the One Bank and Three Committees

The One Bank and Three Committees are China’s relations with the People’s Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and China The abbreviation of the China Insurance Regulatory Commission (CIRC), the four financial management and supervision departments.

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Introduction to the One Bank and Three Conferences

The One Bank and Three Conferences are the domestic financial community’s supervision of the People’s Bank of China and the China Banking Industry The abbreviation of the four financial regulatory authorities in China, namely the Management Committee, the China Securities Regulatory Commission and the China Insurance Regulatory Commission. This name first originated in 2003. One bank and three commissions constitute the pattern of separate supervision of China's financial industry. One bank and three committees all implement vertical management. Yin Zhongqing, member of the Standing Committee of the National People's Congress and deputy chairman of the Finance and Economics Committee, publicly proposed reforming the financial regulatory system on November 13, 2015. When conditions are ripe, the "People's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission" can be merged into a unified comprehensive regulatory agency. 12 On February 23, 2016, Bu Yongxiang, deputy director of the Central Bank’s Financial Research Institute, wrote an article in Caixin magazine suggesting that the basic plan for financial system reform at the central level should be to abolish the China Banking Regulatory Commission, the China Securities Regulatory Commission, the China Insurance Regulatory Commission and the State Administration of Foreign Exchange, institutions, businesses, Personnel and services were integrated into the central bank.

What does "One Bank and Three Commissions" mean?

One Bank and Three Commissions is the abbreviation of the four financial management and supervision departments in mainland China: the People's Bank of China, the Banking Regulatory Commission, the China Securities Regulatory Commission and the Insurance Regulatory Commission. . This term first originated in 2003. In April of that year, the China Banking Regulatory Commission, the latest of the "three meetings", was established. One bank and three committees constitute the pattern of separate supervision of China’s financial industry.

Background of the merger of the Bank of China and the Three Commissions

In September 1983, the State Council decided that the People’s Bank of China would exclusively exercise the functions of the central bank. In 1992, the China Securities Regulatory Commission was established, and in October 1998, the China Insurance Regulatory Commission was established. , the China Banking Regulatory Commission was established in April 2003, thus forming China’s current industry-specific regulatory system consisting of “one bank and three commissions” characterized by institutional supervision and focusing on compliance supervision. Over the years, it has played an important role in regulating the order of the financial market, preventing financial risks, and ensuring the stable development of the financial industry.

In recent years, with the increasing intensity of China's financial reform and innovation, China's financial system has undergone profound changes. There are more and more financial institutions across industries, more and more financial products across fields, and more and more financial businesses across markets. There are more and more cross-platform Internet finance, more and more cross-regional local finance, and more and more cross-border financial markets. These have brought serious challenges to our separate supervision system. Since the announcement of the 13th Five-Year Plan recommendations, discussions on financial regulatory reform have become increasingly intense. President *** recently pointed out that in recent years, the development of China's financial industry has accelerated significantly, forming a diversified financial institution system, a complex product structure system, an information-based trading system, a more open financial market, and especially a comprehensive business trend. obvious. This poses a major challenge to the current separate supervision system. China's regulatory system still maintains separate supervision. The central bank, China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission each manage one area (the three commissions mainly manage business. The central bank, in addition to managing some businesses, is also responsible for macroeconomic regulation and overall financial management. Stable), this will lead to two more difficult situations: (1) Overlapping supervision: For example, banks involved in securities business (including fund custody, bond underwriting, asset securitization, etc.) are subject to supervision by two departments and require full coordination between the two. . The micro entities doing business have to listen to the words of the two mothers-in-law, which is tiring in itself. (2) Regulatory vacuum: Some new finance (such as "wealth companies") are completely unsupervised. Some cross-border businesses require the coordination of two supervisory entities. Coordination is often improper, resulting in regulatory blind spots.

The "one bank and three associations" may be merged. What are your comments on this?

It is estimated that the possibility of merger is not very high. Every row is like a mountain. I do not support and do not agree with the merger.

The specific institutions of one bank and three committees

The People's Bank of China was formed in 1948 on the basis of the merger of North China Bank, Beihai Bank and Northwest Farmers Bank. It is China's central bank and performs central bank business. Responsible for formulating and implementing monetary policies. In 1983, the State Council decided that the People's Bank of China would exclusively perform the functions of the national central bank, including financial risk prevention and resolution, statistical data, bank cards, financial regulations, anti-counterfeit currency work, bulletin boards, etc. ***Main Responsibilities: (1) Drafting relevant laws and administrative regulations; improving implementation rules for relevant financial institutions; and issuing orders and regulations related to the performance of duties (2) Formulating and implementing monetary policies in accordance with the law (3) Supervising and managing inter-bank institutions. The lending market, the inter-bank bond market, the foreign exchange market, and the gold market. (4) Prevent and resolve systemic financial risks and maintain national financial stability. (5) Determine the RMB exchange rate policy; maintain a reasonable RMB exchange rate level; implement foreign exchange management; Own, manage and operate the national foreign exchange reserves and gold reserves. (6) Issue RMB and manage the circulation of RMB. (8) Work with relevant departments to formulate payment and settlement rules and maintain the normal execution of the payment and settlement system. ) Formulate and organize the implementation of a comprehensive statistical system for the financial industry, and be responsible for data collection and macroeconomic analysis and forecasting. (10) Organize and coordinate national anti-money laundering work, guide and deploy anti-money laundering work in the financial industry, and assume the responsibility for anti-money laundering fund monitoring. (11) Manage the credit reporting industry and promote the establishment of a social credit system. (12) As the country’s central bank, engage in relevant international financial activities. (14) Undertake the State Council’s financial business activities. Other matters assigned. The China Banking Regulatory Commission, referred to as the China Banking Regulatory Commission, is the banking regulatory agency of the State Council. According to the authorization of the State Council, it uniformly supervises and manages banks, financial asset management companies, trust investment companies and other deposit-taking financial institutions, and maintains The legal and stable implementation of the banking industry. The China Banking Regulatory Commission has officially performed its duties since April 28, 2003. The establishment of the China Banking Regulatory Commission and the process of clarifying its responsibilities are also the process of professionalizing the responsibilities of the People's Bank of China. During this period, the division of responsibilities will be clarified and refined. Regulations and rules for the supervision and management of banking financial institutions and their business activities will be formulated and issued in accordance with laws and administrative regulations.

Current Chairman: Shang Fulin Responsibilities of the China Banking Regulatory Commission: 1. To formulate and issue regulations and rules for the supervision and management of banking financial institutions and their business activities in accordance with laws and administrative regulations; 2. To review and approve banks in accordance with the conditions and procedures stipulated in laws and administrative regulations The establishment, change, termination and business scope of banking financial institutions; 3. Implement qualification management for directors and senior managers of banking financial institutions; 4. Formulate prudent operating rules for banking financial institutions in accordance with laws and administrative regulations; 5. , conduct off-site supervision of the business activities and risk status of banking financial institutions, establish a supervision and management information system for banking financial institutions, analyze and evaluate the risk status of banking financial institutions; 6. Supervise the business activities and risk status of banking financial institutions Conduct on-site inspections of their risk status, formulate on-site inspection procedures, and standardize on-site inspection behaviors; 7. Implement consolidated supervision and management of banking financial institutions; 8. Work with relevant departments to establish a banking industry emergency response system and formulate banking industry emergencies Disposal plan, clarify the resolution agencies and personnel and their responsibilities, resolution measures and procedures, and handle emergencies in the banking industry in a timely and effective manner; 9. Responsible for the unified preparation of statistical data and statements of banking financial institutions across the country, and in accordance with relevant national regulations Announce it; guide and supervise the activities of banking self-regulatory organizations; 10. Carry out international exchanges and cooperation activities related to banking supervision and management; 11. Respond to credit crises that have or may occur and seriously affect the legitimate rights and interests of depositors and other customers. Take over or promote the restructuring of banking financial institutions; 12. Destroy banking financial institutions with illegal operations, poor management and other situations; 13. Punish banking financial institutions and their staff and related actors suspected of financial violations Inquiries will be made into the accounts; applications to judicial authorities for suspected transfer or concealment of illegal funds will be frozen; 14. Any unauthorized establishment of banking financial institutions or illegal business activities of banking financial institutions will be banned; 15. Responsible for the Board of Supervisors of key state-owned banking financial institutions Daily management work; 16. Undertake other matters assigned by the State Council.

The China Securities Regulatory Commission, referred to as the China Securities Regulatory Commission, is an agency directly under the State Council and the competent authority for the national securities and futures markets...

Why did the chairman of the Bank of China and the three committees choose to come from the Agricultural Bank of China

The Fourth Committee of the People's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission (i.e. one bank and three commissions) (Economy and Information Technology Committee, Municipal Urban and Rural Construction and Management Committee, Municipal Commerce Committee, Municipal Development and Reform Commission)