Standing Committee of the National People's Congress, Decision of the Standing Committee of the National People's Congress on the Exercise of the Functions of Supervision and Control by the China Banking Regulatory Commission…
“ The State Council shall, in accordance with the provisions in the Laws of the People's Republic of China on the People's Bank of China and on Commercial Banks and other relevant laws, which are currently in force, decide that the China Banking Regulatory Commission exercise the functions of examination and approval, supervision and control in respect of banks, financial assets management companies, trust investment companies, and other savings financial institutions, and other relevant functions, which have hitherto been exercised by the People's Bank of China. ”
