China’s National Financial Regulatory Administration outlined an initiative to improve staff conduct and regulatory effectiveness alongside priorities for financial risk resolution and sector reform. The measures were discussed at an expanded Party committee meeting chaired by Director and Party Secretary Ding Xiangqun to implement decisions from the fifth plenary session of the 20th Communist Party Central Committee. The internal governance agenda includes maintaining pressure on corruption and using lessons from serious disciplinary and legal violations within the regulatory system to address weaknesses. The dedicated staff conduct initiative will focus on strengthening Party discipline, improving working practices and enforcing stricter supervision. Financial sector priorities include advancing reform and risk resolution at small and midsize financial institutions, reducing their number and improving their quality. The agenda also calls for supporting the resolution of real estate and local government debt risks. Institutions are to maintain sound approaches to business management, performance and risk, while financial resources are to be allocated around the key tasks of the 15th Five-Year Plan.
China’s National Financial Regulatory Administration sets out staff conduct initiative and financial risk priorities
China’s National Financial Regulatory Administration outlined a staff conduct initiative aimed at improving regulatory effectiveness, alongside measures to strengthen internal discipline and combat corruption. Its financial sector priorities include reforming and reducing the number of small and midsize financial institutions, resolving their risks, and supporting efforts to address real estate and local government debt risks.