China Banking and Insurance Regulatory Commission (data map).
Image source: Visual China
China News Service, Beijing, March 31 (Reporter Wang Enbo) The reporter learned from the China Banking and Insurance Regulatory Commission on March 31 that officials will resolutely punish the corruption behind major financial risks.
Anyone that disrupts the order of supervision and market order, causes major losses of state-owned financial assets or even induces risk events, shall be severely punished and not loaned.
The China Banking and Insurance Regulatory Commission stated that in recent years, the Party Committee of the China Banking and Insurance Regulatory Commission has resolutely implemented the CPC Central Committee’s comprehensive and strict management of the party’s major decisions and arrangements, insisted on punishing corruption and preventing and deflating financial risks, deepening the anti-corruption efforts in the financial sector, actively supporting and fully cooperating with the disciplinary inspections stationed in the Commission. The supervision team strictly investigates major financial risks, the corruption behind the dereliction of duty and supervision, and extends it to areas such as financial infrastructure.
Talking about the next step, the China Banking and Insurance Regulatory Commission stated that it will resolutely punish the corruption behind major financial risks.
Adhere to no forbidden zones, full coverage, and zero tolerance, adhere to the emphasis on containment, strong high pressure, and long-term deterrence, focus on high-risk institutions and regions, and continue to investigate and deal with major risk events, the transfer of benefits behind financial cases, and regulatory failures, especially undermining supervision Orders and market orders that cause major losses of state-owned financial assets or even induce risk events will be severely punished and not loaned.
At the same time, implement the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China and the Central Economic Work Conference to make a series of major decisions and arrangements for economic and financial work in the new era, focusing on anti-monopoly and preventing the disorderly expansion of capital, improving the efficiency of financial services for the development of the real economy, and proper handling Major risks in the banking and insurance industry, standardized development of urban commercial banks and rural small and medium-sized financial institutions, improvement of the modern financial supervision system, and strengthening of the protection of the rights and interests of financial consumers.
The China Banking and Insurance Regulatory Commission also mentioned that it resolutely investigates cases of violations of the eight central regulations, and firmly releases the signal that the closer the watch is, the stricter the discipline will be.
Strictly implement the "double notification" for financial institutions and personnel that draw in corrupt supervisory cadres; implement bribery and bribery investigation and punishment together, involving financial institutions and their personnel in violation of laws, regulations and disciplines, promptly report to the supervisory department, and urge the serious handling.