All issues regarding insurance companies can be complained to the China Banking and Insurance Regulatory Commission. Consumer complaints and rights protection? Hotline: 12378 China Banking and Insurance Regulatory Commission China Banking and Insurance Regulatory Commission (referred to as: China Banking and Insurance Regulatory Commission or China Banking and Insurance Regulatory Commission) was established in 2018 and is a subsidiary of the State Council.

The main responsibilities of directly affiliated public institutions are to uniformly supervise and manage the banking and insurance industries in accordance with laws and regulations, maintain the legal and stable operation of the banking and insurance industries, prevent and resolve financial risks, protect the legitimate rights and interests of financial consumers, and maintain financial stability.

?[1-2]?The China Banking and Insurance Regulatory Commission is an institution directly under the State Council and is at the ministerial level.

?[3]? (1) Implement unified supervision and management of the national banking and insurance industries in accordance with laws and regulations, maintain the legal and stable operation of the banking and insurance industries, and exercise vertical leadership over local offices.

(2) Conduct systematic research on the reform, opening up and supervision effectiveness of the banking and insurance industries.

Participate in the formulation of strategic plans for the reform and development of the financial industry, and participate in the drafting of important laws and regulations for the banking and insurance industries, as well as basic systems for prudential supervision and financial consumer protection.

Draft other laws and regulations in the banking and insurance industries, and make suggestions for their formulation and revision.

(3) Formulate prudential supervision and conduct supervision rules for the banking and insurance industries based on the basic systems of prudential supervision and financial consumer protection.

Formulate operating rules and regulatory rules for other types of institutions such as small loan companies, financing guarantee companies, pawn shops, financial leasing companies, commercial factoring companies, local asset management companies, etc.

Develop a regulatory system for the business activities of online lending information intermediaries.

(4) Implement access management for banking and insurance institutions and their business scope in accordance with laws and regulations, and review the qualifications of senior managers.

Formulate behavioral management regulations for employees in the banking and insurance industries.

(5) Supervise the corporate governance, risk management, internal control, capital adequacy, solvency, business behavior and information disclosure of banking and insurance institutions.

(6) Conduct on-site inspections and off-site supervision of banking and insurance institutions, conduct risk and compliance assessments, protect the legitimate rights and interests of financial consumers, and investigate and deal with violations of laws and regulations in accordance with the law.

(7) Responsible for the unified preparation of national banking and insurance regulatory data reports, publishing them in accordance with relevant national regulations, and performing responsibilities related to comprehensive statistics on the financial industry.

(8) Establish a risk monitoring, evaluation and early warning system for the banking and insurance industries, and track, analyze, monitor and predict the operating conditions of the banking and insurance industries.

(9) Work with relevant departments to put forward opinions and suggestions on emergency risk management for deposit-taking financial institutions and insurance institutions and organize their implementation.

(10) Crack down on illegal financial activities in accordance with laws and regulations, and be responsible for the identification, investigation, and banning of illegal fund-raising, as well as the coordination of relevant organizations.

(11) Responsible for guiding and supervising the relevant business work of local financial regulatory authorities according to the division of responsibilities.

(12) Participate in the formulation of international organizations and international regulatory rules for the banking and insurance industries, and carry out external exchanges and international cooperation in the banking and insurance industries.

(13) Responsible for the daily management of the board of supervisors of key state-owned banking financial institutions.

(14) Complete other tasks assigned by the Party Central Committee and the State Council.

?[3]?[9]? (15) Functional transformation.

Focusing on the guidelines and tasks of national financial work, we will further clarify the functional positioning, strengthen regulatory responsibilities, strengthen micro-prudential supervision, behavioral supervision and financial consumer protection, and maintain the bottom line of preventing systemic financial risks.

In accordance with the requirements of streamlining administration and delegating power, we will gradually reduce and standardize prior approval in accordance with the law, strengthen interim and ex-post supervision, optimize financial services, appropriately transfer regulatory and service functions to local agencies, promote the decentralization of banking and insurance institutions’ businesses and services, and better

Give full play to the function of financial services in the real economy.

?[9]?Unified supervision and management of the banking and insurance industries in accordance with laws and regulations, maintaining the legal and stable operation of the banking and insurance industries, preventing and resolving financial risks, protecting the legitimate rights and interests of financial consumers, and maintaining financial stability.

?[6]?On May 14, 2018, the General Office of the Ministry of Commerce issued a notice that it has assigned the responsibility for formulating business operation and regulatory rules for financial leasing companies, commercial factoring companies, and pawn shops to the China Banking and Insurance Regulatory Commission.

Starting from March 20, relevant duties will be performed by the China Banking and Insurance Regulatory Commission.

?[10]?Internal organizations (1) General Office (Party Committee Office).

Responsible for the daily operation of the agency, undertaking information, security, confidentiality, petitions, government affairs disclosure, informatization, news and publicity, etc.

(2) Policy Research Bureau.

Responsible for the specific work of researching and organizing the implementation of reform and opening up policies in the banking and insurance industries.

Conduct systematic research on domestic and foreign economic and financial situations, international banking and insurance regulatory reform and development trends, regulatory methods and operating mechanisms, and put forward banking and insurance regulatory policy recommendations.

(3) Regulations Department.

Draft other laws and regulations for the banking and insurance industries.

Formulate relevant regulatory rules.

Undertake legality review and legal advisory services.

Responsible for administrative reconsideration, administrative response, administrative punishment, etc.