China Foreign Direct Investment service
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In order to be more open to and supportive of the emergence of China joining in the global economic system after decades of communism and state ownership. so Chinese banking system is in the midst of a generational program of reform as it transitions .This program was started in the early 1980s and continues to the present day.
Chinese Banking Structure
From 1994, Chinese government established three more banks, each of which is dedicated to a specific lending purpose. These policymaking banks include the Agricultural Development Bank of China (ADBC), the China Development Bank (CDB) and the Export-Import Bank of China.Chinese Banking Structure used to be monolithic, with the People's Bank of China (PBC), it is the central bank, as the main entity authorized to conduct operations in that country.Foreign banks were also allowed to establish branches in China, and to make strategic minority investments in many of the state owned commercial banks.
By the Numbers
The total assets of the Chinese banking system were 94.3 trillion RMB, or $14.4 trillion in USD, at the end of 2010. The four specialized banks controlled 45.9 trillion RMB, or approximately 48% of these assets.
Chinese Banking Regulation
The People's Bank of China also has considerable authority over the Chinese banking system. Aside from the typical central bank responsibility for ,monetary policy and representing the country in an international forum, the PBC's role is to reduce overall risk and promote stability of the financial system.The main national regulatory body that oversees the Chinese banking system is the China Banking Regulatory Commission (CBRC), which is charged with writing the rules and regulations governing banks in China. The CBRC conducts examinations and oversight of banks, collects and publishes statistics on the banking system, approves the establishment or expansion of banks and resolves potential liquidity, solvency or other problems that might emerge at individual banks.
Chinese Deposit Insurance
Deposit insurance is provided to protect depositors from the loss of their funds and eliminate the possibility of a "run on the bank" if rumors spread about a particular bank.China does not insure its deposits, but according to the IADI, that country and 23 others have systems pending or are planning to create deposit insurance. Hong Kong, which is a special administrative region under the sovereignty of China, does have deposit insurance for its banks.
Contact Us
For further queries, please do not hesitate to contact ATAHK at anytime, anywhere by simply calling China hotline at 86-755-82148419, 86-755-82143512, or emailing to info@citilinkia.com