National Financial Regulatory Administration

The National Financial Supervision and Administration Commission was established in March 2023, based on the proposal submitted by the State Council for the review of the institutional reform plan. It is a national institution responsible for the supervision and regulation of the financial industry, excluding the securities sector. The commission strengthens institutional, behavioral, functional,penetrative and continuous supervision, and is in charge of the overall protection of financial consumers' rights and interests. It also enhances risk management and prevention, deals with risk resolution, investigates and punishes illegal and non-compliant activities in accordance with the law, and operates as a direct subordinate institution of the State Council. The National Financial Supervision and Administration Commission was formed based on the China Banking and Insurance Regulatory Commission (CBIRC). It integrates the daily regulatory responsibilities of the People's Bank of China over financial holding comp