USEUROPEAFRICAASIA中文双语FrançaisHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILEBusinessMacroCompaniesIndustriesTechnologyMotoringChina DataFinanceTop 10Home / Business / FinanceGuo Shuqing appointed head of China banking commission
By Jiang Xueqing | chinadaily.com.cn | Updated:2017-02-25 08:56Guo Shuqing, governor of Shandong province, speaks at the two sessions in Beijing, Mar 23, 2015. [Photo/VCG]Guo Shuqing, governor of Shandong province, was appointed chairman of the China Banking Regulatory Commission on Friday.He replaced Shang Fulin, 65, who has served as CBRC chairman since October 2011 and reached retirement age.
Born in August 1956, the 60-year-old Guo had rich experience in the financial sector before he went to Shandong. He was named vice-president of the Peoples Bank of China, the central bank, and head of the State Administration of Foreign Exchange in 2001. He became chairman of China Construction Bank Corp in 2005 and chairman of the China Securities Regulatory Commission in 2011.
Some analysts said the appointment is a prelude for China to push forward reforms of the current financial regulation system, which is divided into the banking, securities and insurance sectors. Headed by the Peoples Bank of China, the power of regulation is scattered among different regulators by sectors.With the rapid growth of cross-sector financial services and products, many academics are calling for integration of the financial regulation system to put all these products under unified regulations and prevent regulatory arbitrage.Guo Shuqing (second to the right) is greeted by colleagues at the headquarters of China Banking Regulatory Commission, as he arrives in Beijing to attend the upcoming two sessions on Feb 24, 2017.[Photo/cnstock.com]Related StoriesHNA buys stake in Deutsche BankChina to keep monetary policy neutral: Central bank officialChina should deleverage with prudence: central bank paperCredit data may reflect efforts to curb riskBank focuses more on compliance risk controlPhotoA model wants to thank Jack MaVictorias Secret opens flagship store in ShanghaiVisitors channel inner child at New York toy fairBike-sharing startup Ofo joins hands with veteran bike makerBeijing-Tianjin-Hebei zone: Rise of new growth engineCanada auto show: From steam buggy to hypercarMost Viewed in 24 HoursTop 10Top 10 economies leading the world on tradeEditors picksSF Express set to complete listing in ShenzhenNew wind power projects banned in six regions due to wastageChina DataTimeline of policy support for sports, outdoor activities and fitnessQ&A With CEOUBS chief sees brighter prospects for 2017Creating a household name on sweet noteSpecialChina economy 2016: stabilizing and progressing2016 Central Economic Work ConferenceBACK TO THE TOPHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILECopyright 1995 -var oTime = new Date();
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