National Administration of Financial Regulation

The National Administration of Financial Regulation (NAFR, Chinese: 国家金融监督管理总局) is a financial regulatory body under the State Council of the People's Republic of China. It was established on 10 March 2023 to replace the China Banking and Insurance Regulatory Commission, also taking over some roles from the People's Bank of China and the China Securities Regulatory Commission.

National Administration of Financial Regulation
国家金融监督管理总局
Emblem of the People's Republic of China
Agency overview
FormedMarch 10, 2023 (2023-03-10)
Preceding agency
Jurisdiction People's Republic of China
HeadquartersBeijing
Agency executive
Parent agencyState Council

History

On 10 May 2023, Li Yunze was appointed as the Chinese Communist Party committee secretary of the NAFR.[1]

Responsibilities

The NAFR will oversee over US$58 trillion banking and insurance assets.[2][3]

References
  1. He, Laura (11 May 2023). "China names head of powerful new financial regulator as industry faces greater scrutiny". CNN. Retrieved 16 May 2023.
  2. Lee, Amanda (10 May 2023). "China's financial overhaul continues with banking veteran Li Yunze named party chief of new regulatory body". South China Morning Post. Retrieved 16 May 2023.
  3. "China Names Li Top Financial Regulator in Surprise Move". Bloomberg News. 10 May 2023. Retrieved 16 May 2023.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.