The People's Bank of China and the China Securities Regulatory Commission issued the Measures for the Supervision and Administration of Financial Infrastructures, creating a unified supervisory framework for financial infrastructure activities and setting an implementation date of 1 October 2025. The measures set out criteria for identifying systemically important financial infrastructures and introduce macroprudential management requirements, alongside updated rules on inspections, penalties, recovery and disposal, and exit. The framework focuses on business supervision and expands requirements covering the operation of financial infrastructures, risk management and corporate governance, aiming to standardise supervisory expectations across the sector. The measures comprise six chapters and 37 articles, covering general provisions, establishment, operational requirements, supervision and administration, legal liability and supplementary provisions. The People's Bank of China will work with the China Securities Regulatory Commission on ongoing development and coordinated supervision of the financial infrastructure system.
Central Bank of the Republic of China 2025-08-01
People's Bank of China and China Securities Regulatory Commission issue unified supervisory measures for financial infrastructures effective 1 October 2025
The People's Bank of China and the China Securities Regulatory Commission have issued the Measures for the Supervision and Administration of Financial Infrastructures, effective 1 October 2025, establishing a unified supervisory framework. The measures include criteria for identifying systemically important financial infrastructures, macroprudential management requirements, and updated rules on inspections, penalties, and recovery. The framework aims to standardize supervisory expectations across the sector, focusing on business supervision, risk management, and corporate governance.