China Banking and Insurance Regulatory Commission officially unveiled

 

On 8 April 2018, China Banking and Insurance Regulatory Commission (CBIRC) was formally unveiled in Beijing, marking the official launch of the new regulatory authority into operation.

 

In the first quarter of 2018, with effective measures taken by the banking and insurance regulators, substantial progress has been made in preventing risks, handling irregularities and misconducts, shoring up weak links, facilitating reforms and boosting service capabilities, which further consolidated the efforts of guiding capital to serve the real economy while maintaining the steady and sound operations of the banking and insurance industries. Banking assets grew steadily with liquidity further enhanced and loan quality remaining stable. Capital and provisions rose steadily with risk resilience further stepped up. The insurance sector has made efforts to transform and improve its product structure. The protection type business has grown steadily and its capability to serve the overall interest of the society has grown stronger.  Performance of insurance asset investment is steadily improving. The solvency status of the whole industry is strengthening.

 

Going forward, under the guidance of the central government, the CBIRC will stick to its mandates, and remain resolutely committed to its regulatory priorities of guarding against and resolving significant financial risks. Meanwhile, the CBIRC will continue its efforts to deepen the reform and opening-up of the banking and insurance sectors as well as guiding the two sectors to enhance their efficiency in providing quality services to the real economy in the new era.

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Copyright: China Banking Regulatory Commission
ADDR:Jia N0.15 Financial Street, Xicheng District, Beijing, 100033