What is the financial supervision mode in China?

The basic feature of China's current financial supervision system is separate supervision. It can be roughly divided into two stages: the first stage is the unified implementation of financial supervision by the People's Bank of China before 1998; In the second stage, starting from 1998, the supervision of securities industry and insurance industry was separated from the unified supervision of the People's Bank of China, and they were respectively under the responsibility of the China Securities Regulatory Commission and the China Insurance Regulatory Commission, forming a pattern of separate supervision of the People's Bank of China, the China Securities Regulatory Commission and the China Insurance Regulatory Commission. In 2003, the China Banking Regulatory Commission was formally established and took over the banking supervision function of the People's Bank of China. As a result, China has formally established a financial supervision system with separate operation, separate supervision and division of labor among the three associations.

According to the division of financial supervision, the CBRC is mainly responsible for the supervision of commercial banks, policy banks, foreign banks, rural cooperative banks (credit cooperatives), trust and investment companies, finance companies, leasing companies and financial asset management companies. Taking the big banking industry as the caliber, the CBRC has set up a supervision department, a cooperative financial supervision department and a non-bank financial institution supervision department, with corresponding provincial bureaus, municipal branches and counties (cities) from top to bottom. The CSRC and the CIRC are respectively responsible for the supervision of securities, futures, funds and insurance; Corresponding supervision departments and offices have been set up internally, and corresponding bureau (province, city and city with separate plans) systems have been established from top to bottom. After the establishment of the CBRC, the People's Bank of China made great efforts to strengthen the formulation and implementation of monetary policies, be responsible for the payment safety of the financial system, and give play to the functions of the central bank in macro-control and prevention of financial risks. This organizational structure of financial supervision shows that, except the central bank is responsible for macro-control, several other regulatory agencies focus on the micro-regulatory level of related industries. The biggest advantage of choosing this supervision system is to improve the professional level of supervision, realize the supervision objectives in time and improve the efficiency of "institutional supervision".