The General Office of the CPC Central Committee and the General Office of the State Council adjust the responsibilities, institutions and establishment of the People's Bank of China

According to the China Institutional Organization Network on October 12th, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued a notice on adjusting the organizational structure of the People's Bank of China. According to the "Party and State Institutional Reform Plan" and approved by the Party Central Committee and the State Council, the adjustment of the responsibilities, institutions, and organizational structure of the People's Bank of China is hereby notified.

Notice of the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council on Adjusting the Organizational Structure of the People's Bank of China

(September 24, 2023)

According to the "Plan for the Reform of Party and State Institutions" and approved by the Party Central Committee and the State Council, the adjustment of the responsibilities, institutions, and staffing of the People's Bank of China is hereby notified as follows.

1、 Regarding the adjustment of main responsibilities

（1） The State Council Financial Stability and Development Commission and its office will no longer be retained. Transfer the responsibilities of the Office of the State Council Financial Stability and Development Commission to the Office of the Central Financial Commission.

（2） The daily regulatory responsibilities of financial holding companies and other financial groups will be transferred to the State Administration of Financial Supervision and Administration.

（3） The responsibility of establishing and improving the basic system for protecting financial consumers will be transferred to the State Administration of Financial Supervision and Administration.

2、 About Adjusting Institutional Settings

（1） The Secretariat of the Office of the State Council Financial Stability and Development Commission, located in the People's Bank of China, will be transferred to the Office of the Central Financial Commission.

（2） The People's Bank of China will no longer retain the Financial Consumer Rights Protection Bureau. The responsibility of coordinating and promoting relevant inclusive finance work, originally undertaken by the Financial Consumer Rights Protection Bureau, has been transferred to the Financial Market Department.

（3） The Macro Prudential Authority no longer bears the daily regulatory responsibility for financial conglomerates such as financial holding companies. Transfer the responsibilities of the Financial Market Department in coordinating internet finance supervision, drafting and organizing the implementation of macro credit guidance policies related to the real estate finance field to the Macro Prudential Management Bureau.

3、 Regarding the adjustment of administrative staffing and leadership positions

According to the transfer of responsibilities, 30 administrative positions and 6 leadership positions at the department and bureau levels of the People's Bank of China will be reduced accordingly. After the adjustment, the People's Bank of China has 20 internal institutions, 714 administrative staff, and 87 leadership positions at the department and bureau levels.