The first meeting of the International Advisory Committee (IAC) of CBIRC was held in Shanghai from June 11 to 12, 2019. Discussions at the meeting were focused on the regulation of fintech and the "disposal" of troubled financial institutions.
Members discussed the latest developments in fintech, their impact on the banking and insurance sectors, and the associated regulatory challenges and responses, in addition to the related risk management mechanisms and practical experience of financial institutions. The members "spoke highly" of the progress made in banking and insurance sector reform in China, including opening-up and prudential supervision of the financial sector. In addition to the IAC members, attendees included the CBIRC Vice Chairman, the heads of relevant departments and agencies of CBIRC, and some invited financial institutions and business representatives.
Related Link (in Chinese): Notification
Keywords: Asia Pacific, China, Banking, Insurance, International Advisory Committee, Opening Up Policy, Fintech, CBIRC
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