2016-05-16 15:21

 

Chinese has to "learn" the British financial super regulators

 

[straight news network Beijing May 16 hearing] (Phoenix finance comprehensive) according to Reuters, several sources said, China has in the first quarter represented went to London to study financial regulatory framework in UK, last month, the British also representatives went to Beijing to discuss financial, economic and regulatory issues.
In addition, according to Chinese sources said that the current has not yet decided to establish a line of three will be super regulatory agencies, has a number of proposals to be submitted to the State Council, but it is not clear whether it has been handed over.
It is reported that the national financial work conference will be held in June, one line three meeting, the reform program is one of the main topics of the meeting. Earlier media reports said final reform plan if not after 6 months of the national financial work conference introduced after the September financial "45" planning the inevitable conclusion.
In April, a number of media reports, the most likely direction is the super central bank, but the final program will change at any time. And a central bank official believes that the central bank is only a matter of time.
On April 6, Hong Kong newspaper reports said that the framework of reform of "a line of three" (people's Bank, the China Securities Regulatory Commission, China Banking Regulatory Commission and the China Insurance Regulatory Commission), temporary decided to follow the example of the British super model of a central bank, by the people's bank consists of a "financial administration", similar to the role of Hong Kong financial services and the library service, Planning Commission, China Banking Regulatory Commission and the China Insurance Regulatory Commission, by the Bureau of management responsible for coordination in policy and regulatory.
At the same time, the central bank will be upgraded to Deputy level units, the Financial Regulatory Commission for the ministerial level units, three will be reduced to vice ministerial level units.
In March, Bloomberg said that the Chinese government is expected to first will in the release schedule, the establishment of a super financial regulators, most of the plans for the merger of the China Banking Regulatory Commission (CBRC), China Securities Regulatory Commission and the China Insurance Regulatory Commission, while the central bank in managing the economy enjoyed greater power. But the Chinese government is also considering other options, one of which is the Commission, the China Banking Regulatory Commission and China Insurance Regulatory Commission and the central bank merger.
It is reported that, for specific programs, the central bank has not only reported a program, it is not limited to the "super central bank" direction. The focus of the current discussion, in fact, that how to adapt to macro prudential supervision framework out, integration and new design corresponding departmental agencies.
Central bank vice governor Pan Gongsheng also said that the official still listen to advice, which is not known to the maximum likelihood of the program, the United Kingdom, the United States, Australia, Japan, Russia and other countries can learn from the experience. This one should consider the new system to respond to the economic crisis, the financial crisis is strong and strong, can be coordinated to make a decision; two to consider the cost of the problem, the incentive mechanism and confidence, and responsibilities to be consistent. How the bank card security system can merge with the world, the competitiveness and the security and so on are all need to discuss. 3
(original title: foreign media: China to Britain "from the" super financial supervision department)
Editor: Xiao Shen
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