--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service


Hot Links
China Development Gateway
Chinese Embassies

Banking Supervision Law Questioned

Chinese legislators are drafting a law on bank supervision to empower the nation's new banking commission, but some legal experts have questioned the necessity of such a law.

 

A team that is mainly comprised of legal experts from the China Banking Regulatory Commission (CBRC), the recently established banking watchdog, has completed a second draft of the China Banking Supervision and Regulation Law, sources say.

 

Although the rapidity with which the drafting work has been proceeding prompted speculation that the law may be passed by the National People's Congress (NPC) as early as in the first half of next year, some experts have poured cold water on the prospect, citing legislators' differing opinions.

 

"We don't have a law on securities supervision, nor do we have a law on insurance supervision. Why are we doing this banking supervision law?" asked a legal expert who declined to be named.

 

Sources said the draft has not yet found a place on the NPC's legislative agenda, which, they say, indicates that it may not be passed as quickly as expected. "That suggests views like mine do have some backing (among legislators)," the expert said.

 

The CBRC was established in March in a major reform aimed at splitting the central People's Bank of China's bank supervision functions from monetary policy operations, although the People's Bank Law says that the central bank regulates banks.

 

The commission officially started functioning in April, following a decision by the NPC Standing Committee transferring bank supervisory functions from the central bank.

 

But some experts argue the time is not yet right for a bank supervision law as, with China's banking reforms still having a long way to go, many key issues are still subject to changes and may likely revise the factual basis on which the law is drafted.

 

"The reforms (of banks) are not yet finished, their public listing (plans) have yet to be done, and their internal governance still needs much improvement," said Li Shuguang, a law professor with the China University of Political Science and Law. "The commercial banks are not yet real commercial banks."

 

He continued: "And what if we end up in universal banking?" China's financial supervision system is still based on a policy separating the three sectors of securities, insurance and banking from one another. But it has increasingly become a consensus, among both economists and government officials, that the firewalls shall be torn down sooner or later to boost the competitiveness of Chinese financial institutions.

 

The judicial powers that the CBRC needs to perform its regulatory functions could instead, Li said, be provided by the more flexible administrative regulations and rules that the State Council can make.

 

What is more urgent, he said, is the ongoing revisions to the Commercial Bank Law and the People's Bank Law, both of which see the central bank as the regulator of banks.

 

Sources who have seen the draft law say that rather than outlining a framework for China's bank supervision system, it is more focused on empowering the CBRC.

 

Some ministries are simply looking for power in related legislation, but often tend to ignore the huge costs in drawing up and enforcing these laws, some experts say.

 

The 35-clause draft lists 11 responsibilities for the CBRC, sources say, which include formulating supervisory rules and regulations for banking institutions, authorizing the establishment, changes, termination, branching and business scope of banking institutions, as well as investigating and penalizing activities that violate relevant laws and regulations.

 

One clause authorizes the CBRC to freeze assets of a financial institution under its supervision for as long as 30 days when it decides the institution is suspected of criminal activities and may transfer assets. That will be the first time a Chinese administrative entity has been given semi-judicial powers, and the 30-day freezing period is very excessive, experts say.

 

"It (the draft law) gives the CBRC too much power, this is likely to lead to infringements on the rights of market participants," said the expert who wished to remain anonymous.

 
(China Daily July 28, 2003)

New Regulations to Guide Banks: CBRC
Official Confident in Cutting Bad Loans
CBRC Chief on Goals of Good Regulation
New Banking Regulatory Body Launched Officially
Banking Regulatory Body for China
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright ©China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 性欧美18-19sex性高清播放| 鸥美一级黄色片| 很黄很污的视频网站| 亚洲日本中文字幕天天更新| 粉嫩大学生无套内射无码卡视频| 国产白白白在线永久播放| 99热在线精品免费播放6| 少妇一晚三次一区二区三区| 久久中文字幕人妻丝袜| 日韩精品视频观看| 亚洲伊人久久大香线蕉影院| 毛片免费视频观看| 人妻巨大乳hd免费看| 精品一区二区三区av天堂| 四虎国产精品免费久久影院| 香港特级三A毛片免费观看| 国产日产欧产精品精品电影| 窝窝午夜看片成人精品| 国产香蕉精品视频在| JAPANESE国产在线观看播放| 少妇高潮流白浆在线观看| 中文字幕一区二区三区精彩视频| 日本大臿亚洲香蕉大片| 久久精品亚洲欧美日韩久久| 狼友av永久网站免费观看| 午夜伦理在线观看免费高清在线电影| 亚洲五月激情网| 国产精品盗摄一区二区在线 | 色吊丝最新永久免费观看网站| 国产大片黄在线播放| 992tv成人影院| 在线a人片天堂免费观看高清| xxxxx性bbbbb欧美| 日本大乳高潮视频在线观看 | 久久久久亚洲精品成人网小说| 狠狠色噜噜狠狠狠888米奇视频| 午夜免费福利视频| 精品无码成人片一区二区| 啦啦啦中文在线视频6| 美女的胸又www又黄的网站 | 日本一道高清不卡免费|