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The China Banking Regulatory Commission (CBRC) was an agency of the
People's Republic of China China (), officially the People's Republic of China (PRC; ), is a country in East Asia East Asia is the eastern region of Asia Asia () is Earth's largest and most populous continent, located primarily in the Eastern Hemisphere ...

People's Republic of China
(PRC) authorised by the
State CouncilState Council may refer to: Government * State Council of the Republic of Korea, the national cabinet of South Korea, headed by the President of South Korea, President * State Council of the People's Republic of China, the national cabinet and ch ...
to regulate the banking sector of the PRC except the territories of Hong Kong and Macau, both of which are
special administrative region A special administrative region is a designation for types of administrative territorial entities in Mainland China Mainland China, also known as the Chinese mainland, China mainland, or the Mainland Area of the Republic of China is the geopo ...
s. In response to their swelling debt loads, undercapitalization and non-transparent business practices, the government of China recapitalized the banks and set up the CBRC as the country's independent banking regulator in 2003. Liu Mingkang was appointed its first chairman and served until 2011, when he was replaced by
Shang Fulin
Shang Fulin
. In 2017, Shang was replaced by Guo Shuqing as the new chairman. Active in developing policies to promote
financial inclusion Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services. ...
, the Bank is a member of the Alliance for Financial Inclusion. In April 2018, the China Banking Regulatory Commission was merged with the
China Insurance Regulatory Commission The China Insurance Regulatory Commission (CIRC) was an agency of China authorized by the State Council of the People's Republic of China, State Council to regulate the Chinese insurance products and services market and maintain legal and stable ope ...
to form the
China Banking and Insurance Regulatory Commission The China Banking and Insurance Regulatory Commission (CBIRC) is an agency of the People's Republic of China (PRC) authorised by the State Council of the People's Republic of China, State Council to * Supervise the establishment and ongoing busine ...
.


See also

* ''
China Securities Journal The ''China Securities Journal'' (abbreviated as CSJ or ZGZQB), also transliterated as ''China Securities Post'' or ''China Securities News'', is a national securities newspaper in China, published by Xinhua News Agency. It is based in Beijing, an ...
''


References


External links

* 2003 establishments in China Banking in China Financial regulatory authorities of China Government agencies established in 2003 Government agencies of China State Council of the People's Republic of China 2018 disestablishments in China {{PRChina-gov-stub