The National Financial Regulatory Administration, the People's Bank of China and the China Securities Regulatory Commission jointly published Opinions on advancing the high-quality development of financial dispute mediation, aimed at strengthening diversified financial consumer dispute resolution and prioritising non-litigation mechanisms across the financial sector. The Opinions comprise seven sections and 23 articles and cover dispute mediation in banking, securities and insurance. The package focuses on strengthening the basic foundations for mediation, expanding its role and improving overall effectiveness, including by promoting a more complete and granular mediation framework, more standardised and professional mediation bodies, and smoother and more efficient mediation channels, while encouraging more proactive participation by relevant parties. Next, the National Financial Regulatory Administration will work with the People's Bank of China, the China Securities Regulatory Commission and other departments to implement the Opinions’ requirements and support more orderly, professional and law-based financial dispute mediation.
China Banking and Insurance Regulatory Commission 2025-04-03
China's National Financial Regulatory Administration, People's Bank of China and China Securities Regulatory Commission issue joint opinions to upgrade financial dispute mediation
The National Financial Regulatory Administration, the People's Bank of China, and the China Securities Regulatory Commission have issued Opinions to enhance financial dispute mediation, emphasizing non-litigation mechanisms. The document outlines improvements in mediation frameworks, standardization, and efficiency across banking, securities, and insurance sectors, involving collaboration with various departments to ensure orderly and professional practices.