China Banking Regulatory Commission

Agency of the People's Republic of China China Banking Regulatory Commission中国银行业监督管理委员会Agency overviewJurisdictionNationalHeadquartersBeijingAgency executiveGuo Shuqing, ChairmanParent agencyState CouncilWebsitecbrc.gov.cn The China Banking Regulatory Commission (CBRC) was an agency of the People's Republic of China (PRC) authorised by the State Council to regulate the banking sector of the PRC except the territories of Hong Kong and Macau, both of which are special administrative regions. History In 1998, the Communist Party established the Central Financial Work Commission to be the implementing body for financial policies, coordinating regulatory agencies in the financial sector, conducting investigations and disciplinary inspections, and making personnel recommendations. In 2002, the commission was dissolved and most of its functions transferred to the newly created China Banking Regulatory Commission (CBRC). 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 appoi