36 regional offices for China's National Financial Regulatory Administration unveil nameplates
Nameplates for the 36 reginal offices under China's National Financial Regulatory Administration (NFRA) across the countries were unveiled on Thursday as planned.
The 36 regional offices are located across four Chinese municipalities, 22 provinces, five autonomous regions and five major cities including Dalian in Northeast China's Liaoning Province, Ningbo in East China's Zhejiang Province, Xiamen in East China's Fujian Province, Qingdao in East China's Shandong Province and Shenzhen in South China's Guangdong Province, the official website of NFRA revealed.
The NFRA was established on May 18 of this year as a new top financial regulatory administration formed on the basis of the China Banking and Insurance Regulatory Commission, which is directly under the State Council, the cabinet, and is in charge of regulating the entire financial industry excluding the securities industry. The nameplates for the NFRA were also unveiled the same day.
Industry analysts noted the NFRA is tasked with closing regulatory loopholes and ensuring the sound development of the country's vast financial industry. Li Yunze, a veteran banker and former vice governor of Southwest China's Sichuan Province, was appointed to lead the NFRA on May 10.
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