A Systemic Fix for Financial Risks

金融风险的系统性改革

February 24, 2018 | BY

Susan Mok

Dorothy Xing and Jennifer Zhang of East & Concord Partners analyze the latest policy objectives of the CBRC, CIRC, and CSRC, the regulations tackling P2P lending risks, and the onshore investment opportunities for foreign banks 天达共和律师事务所的邢冬梅律师和张璇律师分析了银监会、保监会和证监会最新的政策目的，应对P2P借贷风险的法规以及外资银行的境内投资机遇

1. WHAT HAVE BEEN THE KEY LEGISLATIVE CHANGES AFFECTING CHINA'S FINANCIAL SECTOR OVER THE PAST YEAR?

The years 2016 to 2017 marked a period of controversial activity and stringent regulation for the financial markets. The “one bank and three commissions”—the People's Bank of China (PBOC), China Banking Regulatory Commission (CBRC), China Insurance Regulatory Commission (CIRC), and China Securities Regulatory Commission (CSRC)—have issued a series of documents seeking to further regulate financial institutions on multiple fronts, including internal governance, risk oversight, and business guidance. Their moves, which have most heavily targeted the banking and insurance industry, have been aimed at eliminating leveraging and regulatory arbitrage, as well as preventing and controlling risks. These regulations have had a major impact on the product models and funding costs in the financial market.

Key policies and regulations issued within the past year include:

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