| 国家金融监督管理总局 | |
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.jpg) Headquarters | |
| Agency overview | |
|---|---|
| Formed | March 10, 2023 (2023-03-10) |
| Preceding agency | |
| Jurisdiction |  People's Republic of China |
| Headquarters | Beijing |
| Agency executive |
|
| Parent agency | State Council |
| Website | www |
TheNational Financial Regulatory Administration (NFRA) is a regulatory agency, under theState Council of the People's Republic of China. It is responsible for overseeing the financial sector (including banking and insurance) in China, exceptsecurities.
The NFRA was established on 10 March 2023 to replace theChina Banking and Insurance Regulatory Commission (CBIRC) as part of theplan on reforming Party and state institutions, also taking over some roles from thePeople's Bank of China (PBC) and theChina Securities Regulatory Commission (CSRC). On May 10, 2023,Li Yunze was appointed as theChinese Communist Party committee secretary of the NFRA.[1] On May 19, 2023, Li was appointed as the director of the NFRA.[2]
The NFRA oversees regulatory supervision, including the enforcement of financial laws and regulations, of nearly all parts of the financial industry except securities, which are instead managed by the CSRC.[3]
The NFRA has 27 departments, one more than the former CBIRC.[4] It is planned to absorb around 1,600 county-level branches of the People's Bank of China; the PBC had 1,761 such branches at the end of 2021.[5] The NFRA has an International Advisory Council, which is made up of current and former leaders of foreign financial companies and institutions.[6]
| Name | Chinese name | Took office | Left office | Ref. |
|---|---|---|---|---|
| Li Yunze | 李云泽 | 19 May 2023 | [7] |
| Central bank | |
|---|---|
| Policy bank | |
| State Council commercial | |
| Nationwide commercial | |
| Urban commercial | |
| Regulatory agency | |