China Banking Regulatory Commission. According to the authorization, conduct unified supervision and management of deposit financial institutions such as banks, financial asset management companies, trust and investment companies, and safeguard the legal and steady operation of the banking industry. China Banking Regulatory Commission officially performed its duties on April 28th, 2003. The process of establishing the CBRC and defining its responsibilities is also the process of specialization of the People's Bank of China. It was during this period that the division of responsibilities was clarified and refined. The separation of central bank's supervisory responsibilities and the establishment of China Banking Regulatory Commission, and the separation of financial macro-control and financial micro-supervision are all inseparable from China's economic and financial development environment. This is an inevitable requirement for the financial industry and financial market to become increasingly complicated, specialized and technical, and it is also the object of financial supervision. China Banking Regulatory Commission
The establishment of the China Banking Regulatory Commission will truly complete the troika of China's financial supervision, marking the formal establishment of China's "one line, three meetings" (People's Bank of China, China Securities Regulatory Commission, China Insurance Regulatory Commission and China Banking Regulatory Commission), which will play a very important role in improving the competitiveness of banks, securities and insurance markets and preventing a wider range of financial risks. A new banking supervision system has been established, including macro supervision by the central bank and micro supervision by the China Banking Regulatory Commission.
The establishment of China Insurance Regulatory Commission marks the formation of an independent financial supervision system in China. Since then, the People's Bank of China, the China Securities Regulatory Commission and the China Insurance Regulatory Commission have jointly implemented financial supervision, drawing lessons from foreign financial supervision systems and conforming to the development trend of China's financial market. China Insurance Regulatory Commission (CIRC)
The establishment of the China Insurance Regulatory Commission has fundamentally realized the separation of financial macro-control and financial micro-supervision. This is an inevitable requirement for the financial industry and financial market to become increasingly complicated, specialized and technical. Five years later, in 2003, the establishment of China Banking Regulatory Commission (CBRC) marked the formal establishment of the financial model of separate supervision (People's Bank of China, China Securities Regulatory Commission, China Insurance Regulatory Commission and China Banking Regulatory Commission) in China, which played a very important role in enhancing the competitiveness of the three major banking markets. Securities and insurance have prevented financial risks in a wider range. A new insurance supervision system has been established, including macro supervision by the central bank and micro supervision by China Insurance Regulatory Commission.
China Securities Regulatory Commission is a directly affiliated institution of the State Council and the competent department of the national securities and futures market. Perform the administrative duties authorized by the State Council, conduct centralized and unified supervision of the national securities and futures industry according to law, maintain the order of the securities market, and ensure the legal operation of the securities market. China Securities Regulatory Commission: supervise the securities market and maintain the normal order of the securities market; Relevant laws and regulations formulated for the normal operation of the securities market; Let the securities market run normally and orderly.