The Local Financial Supervision Bureau is an institution established in the State Council to be responsible for local financial supervision and management. Its responsibilities mainly include: supervising financial institutions within its jurisdiction, including banks, securities, insurance, trusts, etc. To ensure its legal operation and strengthen the monitoring and prevention of its risks; Supervise the financial markets within its jurisdiction, including various exchanges, fund companies and futures companies, and maintain a fair, open and transparent operating environment for financial markets; Manage the financing activities of non-financial enterprises, promote the development of the real economy, and prevent and resolve financial risks. Specifically, the responsibilities of the local financial supervision and administration bureau include: organizing local financial supervision and management; Guide financial institutions within their jurisdiction to operate in compliance with laws and regulations and prevent risks; Monitoring and early warning of financial risks, and timely preventing and resolving financial risks; Coordinate and handle financial disputes among financial institutions within their jurisdiction; Strengthen the crackdown on illegal financial activities.
How does the local financial supervision bureau ensure the stable operation of the financial market? The local financial supervision and administration bureau ensures the stable operation of the financial market by strengthening supervision, perfecting the system and improving risk prevention. Specifically, the local financial supervision and administration bureau will strengthen the examination and approval of various financial institutions and financial products to ensure their compliance; Improve the financial risk prevention system, discover and prevent financial risks in time; Improve the market access system and promote the formation of an open, transparent and orderly market environment.
Local financial supervision and management bureau plays a very important role in local financial supervision and management. Its responsibilities cover key areas such as financial institutions, financial markets and financing activities of non-financial enterprises, and it plays an irreplaceable role in ensuring the security, stability and justice of financial markets and promoting the development of the real economy.
Legal basis:
Article 23 of People's Republic of China (PRC) Financial Supervision Law is responsible for financial supervision and management within its administrative region, safeguarding the security, stability and justice of financial markets, protecting the rights and interests of financial consumers, and strengthening the supervision of financing activities of non-financial enterprises.