Latest Developments in China‘s Banking Reform, Opening-up and Supervision

China Banking Regulatory Commission (CBRC) was authorized by law to regulate and supervise all the banking institutions in China and their business activities. CBRC plays an active role in China‘s banking reform. According to a press release by the State Council on December 5, under the leadership of the central government and the guidance of Deng Xiaoping Theory and the important thought of“ Three Represents,“ the CBRC continues to practise the scientific concept of development, deepen the banking reform, further the opening up and enhance banking supervision, so as to ensure a safe and sound development of China‘s banking sector.……