China Banking and Insurance Regulatory Commission: Support the establishment of private banks in Beijing that mainly support the development of cultural and creative industries
Encourage insurance institutions to develop cultural intellectual property insurance business
Yesterday, Liang Ling, the first-level inspector of the Regulations Department of the China Banking and Insurance Regulatory Commission, introduced the recent regulatory policies of the China Banking and Insurance Regulatory Commission and related measures to support the expansion of the opening up of the Beijing service industry and the pilot free trade zone at the 2020 Financial Street Forum annual meeting.
Liang Ling said that the China Banking Regulatory Commission will support the establishment of private banks in Beijing that focus on supporting the development of cultural and creative industries, encourage insurance institutions to explore cultural intellectual property insurance business, and encourage qualified Chinese banks to develop cross-border financial services.
In recent years, the China Banking and Insurance Regulatory Commission has fully implemented relevant decisions and deployments, focusing on the positioning and development needs of Beijing’s “four centers”, vigorously promoting the expansion of the banking and insurance industry to be implemented in Beijing, and actively guiding bancassurance institutions to provide modern services for Beijing Provide high-quality financial services for industry development and the construction of pilot free trade zones.
The China Banking and Insurance Regulatory Commission participated in the formulation of the “Work Plan for Deepening the New Round of Beijing’s Service Industry Expansion and Comprehensive Pilot Program to Build a National Service Industry Expansion and Comprehensive Demonstration Zone” to further optimize regulatory rules and improve support policies.
Specifically, it includes: giving priority to allowing multinational companies to establish wholly foreign-owned financial companies in Beijing, supporting bancassurance institutions to carry out financial technology innovation activities in Beijing in accordance with the law, supporting qualified financial institutions to establish financial technology companies in Beijing, and encouraging bancassurance institutions to explore and develop more suitable technologies Individualized financing services for large-scale enterprises, guide bancassurance institutions to provide financial services for modern service enterprises in Beijing, and support banking institutions to establish cultural and creative franchise branches.
At the same time, participate in the summary of experience, copy and promote, and better play the demonstration effect and leading role of the opening up of Beijing's service industry.
The China Banking and Insurance Regulatory Commission also actively cooperated with the Beijing Municipal Government and the Ministry of Commerce to study and formulate the "China (Beijing) Pilot Free Trade Zone Overall Plan" to further deepen the reform and opening up of Beijing's financial sector.
Specifically, it includes: supporting the establishment of private banks in Beijing that focus on supporting the development of cultural and creative industries, encouraging insurance institutions to explore cultural intellectual property insurance business, encouraging qualified Chinese banks to develop cross-border financial services, and supporting multinational companies to establish qualified Qualified investment companies establish financial companies in compliance with laws and regulations.
Support auto finance companies in the Pilot Free Trade Zone to carry out cross-border financing and to apply for the qualification of part-time insurance agency.
Liang Ling said that in the next step, the China Banking and Insurance Regulatory Commission will continue to promote the construction of the banking and insurance industry, focusing on weak links, blank blind spots and outstanding problems, and promote the formulation, release and implementation of relevant systems in a steady and orderly manner in accordance with the plan. The implementation of the policies that have been issued will resolutely fight the tough battle to prevent and resolve financial risks. At the same time, the China Banking and Insurance Regulatory Commission will continue to support and cooperate with the Beijing Municipal Party Committee and Municipal Government to promote the high-quality development of Beijing's banking and insurance industry. Text/Reporter Cheng Jie