Yesterday morning, the Tianjin Supervision Bureau of the National Administration of Financial Regulation was officially listed, and the official website was updated simultaneously.
Nameplates for all of the regional offices under the National Administration of Financial Regulation (NAFR) - China's main financial business supervisory authority - were unveiled on Thursday as planned, marking another important step forward in the nation's institutional reform of financial supervision.
Regional offices consist of 31 provincial-level bureaus, five bureaus in five megacities and 306 bureaus in prefecture-level smaller cities, the official website of the NAFR revealed.
The NAFR was established on May 18 and is directly under the State Council, China's cabinet. It is in charge of regulating the entire financial businesses excluding the securities sector, which is administered by China Securities Regulatory Commission.
The new financial sector regulator was established on the foundation of the previous China Banking and Insurance Regulatory Commission, and certain functions of the People's Bank of China (PBC) and the China Securities Regulatory Commission were transferred to the new administration, according to the Xinhua News Agency.
