The China Banking Regulatory Commission ( CBRC ) was an agency of the People's Republic of China (PRC) authorised by the State Council to regulate the banking sector of the PRC except the territories of Hong Kong and Macau, both of which are special administrative regions .
4-517: In response to their swelling debt loads, undercapitalization and non-transparent business practices, the government of China recapitalized the banks and set up the CBRC as the country's independent banking regulator in 2003. Liu Mingkang was appointed its first chairman and served until 2011, when he was replaced by Shang Fulin . In 2017, Shang was replaced by Guo Shuqing as the new chairman. Active in developing policies to promote financial inclusion ,
8-639: Is a Chinese former politician, public servant and economist. He graduated from the University of London in 1987. In 1988, he received an MBA from the Cass Business School . He served as chairman of the China Banking Regulatory Commission from its creation in 2003 until he reached the retirement age of 65. During his tenure he was responsible for putting in place an effective regulatory structure which helped
12-936: The Bank is a member of the Alliance for Financial Inclusion. In April 2018, the China Banking Regulatory Commission was merged with the China Insurance Regulatory Commission to form the China Banking and Insurance Regulatory Commission . This article about government in the People's Republic of China is a stub . You can help Misplaced Pages by expanding it . Liu Mingkang Liu Mingkang ( Chinese : 刘明康 ) (born August 28, 1946 in Fuzhou , Fujian )
16-693: The Chinese banking system weather the global financial crisis and emerge relatively healthy and well capitalized. Liu told the Boao Forum for Asia in 2012 that liberalization of financial markets is "part of a package" in the latest Five-Year Plan for promoting domestic-driven growth and rebalancing exports and imports. The liberalization "is not a piecemeal approach, but part of a series of building blocks, he said", according to one report. Liu grew up in Shanghai after completing high school in 1965. He
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