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Friday, May 15, 2009

Insurance businesses will set up four navigate agreement of the China Banking Regulatory Commission China Insurance Regulatory Commission

By Zou cheaponsale

From the Securities and Futures Commission, Ministry of Finance, the midpoint bank, China Banking Regulatory Commission and other fiscal regulatory representatives from 11 of China's fiscal reorganise in the fifth high-level forum, said China Banking Regulatory Commission and China Insurance Regulatory Commission has been the direct on the banks indemnity financial gatherings to arrive at a concurrence, first of all the four greatest banks in the pilot; fiscal managers to pay for the risk and peer-to-peer, performance-related. They in addition said that to endorse the erected structure of a multi-level loan market.

China Banking Regulatory Commission:

Insurance businesses will set up four navigate

Supervision of a deputy controller of the China Banking Regulatory Commission Lai Sau Fu said China Banking Regulatory Commission and China Insurance Regulatory Commission has been the navigate on the banks protection businesses to come to a agreement, the first large-scale in the four navigate banks.

"There are four regulatory agencies can not be tolerated: loans" Richard III "strictly produced by the advance in non-performing assets, more than large attentiveness of loan risk extents, advances deriving from in the course of the risk of significance hazard, unscientific to wares create, sales method knowledge opaque, have a repute risk for banks, a very horrid public impact. "He said that the well-known support of monetary development, we need to fasten to the foundation line risk, unwavering asset worth, assorted sorts of risk in the hindrance of leg effort from apex to foundation, principally the hindrance of new loan risk, the risk of acquisition of advances, balance-sheet enterprise risk, bright message support risk, the risk of banks and other cases.

Ministry of Finance:

Finance and risk executives need to pay for such

Ministry of Finance, deputy controller of investment to study Hu said that the Ministry of Finance as an significant economic asset administration part, in latest years, mostly the work of the following characteristics: First, from a aim on economic administration to aim on alterations in state-owned asset management; the second, from the aim state-owned economic assets to the significance of mechanical administration of state-owned economic asset administration of all facets of organising change; Third, from a lone scheme of state-owned assets to the development of state-owned economic asset administration scheme to set up the rudimentary framework; the fourth, the Ministry of Finance to fulfill both state-owned assets administration purposes, but furthermore to some span to fulfill the purposes of the shareholder to workout the privileges of shareholders.

Hu study that, to fortify the fiscal organisation of state assets should be very distinctly delineated objectives, the macro stage to look after the fiscal security and constancy, micro enterprises to money their own determinations, to realise and advance their value. At the matching time, the organisation of state-owned fiscal assets ought be clear principles: First, the belief is authorized; Second, sustain the enticements and constraints on and so on, pay the matching beliefs and risks; third is to enhance the company governance principles.

Bank:

Research "lending Ordinance"

People's Bank of China Liu Ping, deputy controller of the Institute of Finance suggestion to permit household personal economic and non-governmental lending sun, and heritage of China's borrowings retailers, construction multi-level borrowing markets.

"China's monopoly of the loan market by banks in foreign nations, the principle configurations of lending were unlimited, there are natural people, financial gatherings, enterprises, associations, can be in assorted forms." She said that the prevailing "credit Ordinance" submitted up after State Council Legislative Affairs Office has been embraced in this year's examine arrange is looked frontwards to to standardize the configuration of countrywide legislation taken on by non-governmental lending, to smash the monopoly, in order that a gathering of appropriate population recorded to hire advances to address the subject of SME financing.

She also said that the central bank will continue to track real-time monitoring and dynamic civil society and changes in lending to crack down on loan-sharking and illegal fund-raising, at the same time, and the public will have a positive flow and publicity, so that they can fully understand the non-governmental loans. - 21396

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