a line of three meetings.

One-line-three-meeting is the abbreviation of China People's Bank, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, which are four financial regulatory departments in China. This term originated in 23, and one-line-three-meeting constitutes the pattern of separate supervision of China's financial industry. A line of three meetings will all implement vertical management.

On November 13th, 215, Yin Zhongqing, member of the National People's Congress Standing Committee (NPCSC) and deputy director of the Financial and Economic Committee, publicly proposed to reform the financial supervision system. When conditions are ripe, "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 supervision institution.

China's regulatory system still maintains the situation of separate supervision, with the central bank, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission each in charge of one piece (the three committees are mainly in charge of business, while the central bank is also responsible for macro-control and overall financial stability in addition to some businesses), which will lead to two more difficult situations:

(1) overlapping supervision: for example, banks are involved in securities business (including fund custody, bond underwriting, asset securitization, etc.). The micro-subject who does business has to listen to the words of two mother-in-law, and he is also tired.

(2) Regulatory vacuum: Some new types of finance (such as "wealth companies") are completely out of control. Some cross-business from mixed industries need the coordination of two regulatory bodies, which often leads to regulatory blind spots.