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23-663: The National Financial Regulatory Administration ( NFRA ) is the financial industry regulatory agency of China, under the State Council of the People's Republic of China . It oversees the entire financial industry (including banking and insurance) in China, except securities . The NFRA was established on 10 March 2023 to replace the China Banking and Insurance Regulatory Commission (CBIRC), also taking over some roles from

46-549: A Party Committee, which in turn elects a Standing Committee . The Standing Committee includes a party secretary, who is the leader of the CCP in that province-level division. The Standing Committee usually includes the top members of the People's Government as well. The first province-level divisions were created in the Yuan dynasty , and have remained one of the most stable forms of Chinese government since then. They were created to help

69-543: A state councillor) all assist the premier. Each vice premier oversees certain areas of administration in support of the premier. In practice, the vice premiers and State Councillors assume responsibility for one or more sectors or issues, and remain in contact with the various bodies responsible for policy related to that area. This allows the Standing Committee to oversee a wide range of government functions. Each State Councillor performs duties as designated by

92-498: Is assisted by a number of subordinate officials such as Vice-Governors. The head of the People's Government is appointed by the State Council . That said, the People's Governments are responsible to both the State Council and the regional People's Congress, and implement the decisions of both bodies. They also pass the State Council's instructions down to the lower levels of the administration. Province-level governments have

115-415: Is officially (de jure) divided into 34 province-level administrative divisions , the first level of administrative division in the country. There are four types of divisions at the province level: Province-level divisions can trace their origins back to the Yuan dynasty . The political status of Taiwan Province , as well as small portions of other provinces , are disputed. The legislative branch at

138-603: The Chinese Communist Party (CCP). The State Council is legally required to implement the policies of the CCP. Aside from a few, members of the State Council are also members of the CCP's Central Committee . The State Council is described by the Chinese constitution as the executive organ of the National People's Congress (NPC), as well as the "highest state administrative organ". Constitutionally,

161-583: The Cultural Revolution , these Congresses each elected a revolutionary committee to exercise both executive and legislative power when they were not in session. Province-level divisions had limited independent authority before the period of Reform and Opening-up , due to the centrally planned nature of the economy. Their main role was to implement the decisions made by the central government regarding production goals, raising and spending of revenue, and resource allocation. However, in contrast with

184-696: The Ministry for National Defense but does not control the People's Liberation Army, which is instead controlled by the Central Military Commission (CMC). The State Council previously had joint command over the People's Armed Police (PAP) together with the CMC, principally through the Ministry of Public Security , though 2018 reforms placed the PAP solely under CMC command. The plenary session of

207-607: The People's Bank of China (PBC) and the China Securities Regulatory Commission (CSRC). On May 10, 2023, Li Yunze was appointed as the Chinese Communist Party committee secretary of the NFRA. On May 19, 2023, Li was appointed as the director of the NFRA. The NFRA oversees regulatory supervision, including the enforcement of financial laws and regulations, of nearly all parts of the financial industry except securities, which are instead managed by

230-688: The Politburo has ultimate authority. In 2024, during the second session of the 14th National People's Congress , the Organic Law of the State Council was amended to mandate the CCP Central Committee 's leadership over the State Council. The amended law also stipulates the State Council must follow the CCP's ideology and policies. The State Council is composed of the premier , several vice premiers , several state councillors , ministers of ministries, directors of committees,

253-641: The CSRC. In total, it will oversee US$ 58 trillion of banking and insurance assets. The NFRA has 27 departments, one more than the former CBIRC. It is planned to absorb around 1,600 county-level branches of the People's Bank of China; the PBC had 1,761 such branches at the end of 2021. State Council of the People%27s Republic of China The premier is responsible for the State Council and exercises overall leadership of its work. The secretary-general of

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276-625: The Imperial court manage local county governments, which were too numerous and far-flung to be managed directly. The number of provinces grew steadily during subsequent dynasties, reaching 28 by the time of the Republic of China . Under the Nationalist Government, large cities began to be classified separately from other administrative units. Starting in 1930, some of these "special cities" became "direct jurisdiction cities" under

299-757: The PRC on the Soviet Union, the CCP's experience with territorial disintegration during the Warlord Era led them to reject the Soviet federal structure . Instead, the total number of provinces was significantly reduced and the unitary state structure was retained. Most direct jurisdiction cities were abolished, although a few became province-level cities. Limited autonomy was granted to ethnic minorities in five new "Autonomous Regions" (see below). People's Congresses were set up to run province-level governments. During

322-611: The Premier. The secretary-general heads the General Office which handles the day-to-day work of the State Council. The State Council includes 26 constituent departments, and oversees the province-level governments throughout China. Each ministry supervises one sector. Commissions outrank ministries and set policies for and coordinate the related activities of different administrative organs. Offices deal with matters of ongoing concern. The establishment, dissolution, or merger of

345-1502: The State Council is hosted by the Premier, joined by Vice Premiers, State Councillors, Ministers in charge of Ministries and Commissions, the Governor of the People's Bank, the Auditor-General, and the Secretary-General. It usually runs bi-annually and when necessary, non-members can be invited to participate. Province-level divisions of China Provinces Autonomous regions Sub-provincial autonomous prefectures Autonomous prefectures Leagues (Aimag) (abolishing) Prefectures Provincial-controlled cities Provincial-controlled counties Autonomous counties County-level cities Districts Ethnic districts Banners (Hoxu) Autonomous banners Shennongjia Forestry District Liuzhi Special District Wolong Special Administrative Region Workers and peasants districts Ethnic townships Towns Subdistricts Subdistrict bureaux Sum Ethnic sum County-controlled districts County-controlled district bureaux (obsolete) Management committees Town-level city Areas Villages · Gaqa · Ranches Village Committees Communities Capital cities New areas Autonomous administrative divisions National Central Cities History: before 1912 , 1912–49 , 1949–present China

368-434: The State Council meets every six months, composed of all members of the State Council. Between meetings it is guided by an Executive Meeting of the State Council  [ zh ] which is held two to three times a month, and can be called at the discretion of the premier. The Executive Meeting is composed of the premier, vice premiers, state councilors, and the secretary-general. (first-ranked) The Plenary Meeting of

391-567: The State Council, under the leadership of the premier, is responsible for handling the daily work of the State Council and heads the General Office of the State Council. The executive meeting of the State Council, consisting of the premier, vice premiers, state councillors and the secretary-general, meets two to three times a month, while the plenary session, consisting of all members of the State Council, meets every six months. The State Council directly oversees provincial-level People's Governments, and in practice maintains membership with top levels of

414-536: The auditor general, and the secretary-general . The premier leads the State Council and is appointed by the NPC upon the nomination by the president , though in practice the premier is chosen within the CCP leadership, including the Politburo Standing Committee . The vice premiers (one executive and generally three others), state councillors, and a secretary-general (who normally also serves as

437-492: The central government, the predecessor of province-level cities. During the Warlord Era , provinces became largely or completely autonomous and exercised significant national influence. Province-level units proliferated and under the early People's Republic there were over 50. In the mid-1950s, the People's Republic (PRC) made several major reforms to province-level administration. Despite closely modelling other aspects of

460-422: The constituent departments are proposed by the premier and decided by the NPC or its Standing Committee. Bureaus and administrations rank below ministries. In addition to the ministries, there are 38 centrally administered government organizations that report directly to the state council. The heads of these organizations attend full meetings of the state committee on an irregular basis. The State Council controls

483-416: The main functions of the State Council are to formulate administrative measures, issue decisions and orders, and monitor their implementation; draft legislative bills for submission to the NPC or its Standing Committee; and prepare the economic plan and the state budget for deliberation and approval by the NPC. The State Council has flexibility in decision-making, especially with regard to economic matters, but

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506-430: The power to set budgets and raise revenue, although they are subject to the State Council's approval. They can pursue development projects without seeking central government approval. As with the central government , province-level divisions are governed by parallel party and state structures. Each province-level branch of the Chinese Communist Party (CCP) holds a Party Congress every five years. The congress will elect

529-477: The provincial level is the People's Congress, modeled on the National People's Congress . Provincial People's Congresses have had legislative powers since 1979, and pass laws on a wide variety of issues. The executive branch is the Provincial People's Government, led by a governor in the provinces, a mayor in provincial-level cities, a chairman in the autonomous regions. The head of the government

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