Provincial Office of Financial Affairs

updated on: 2008-05-26  source:

  Main Functions:

  1.        To coordinate and facilitate implementation of national monetary policies; to put into place national guidelines, policies, laws and regulations on banking, insurance, securities, futures and trust; to see to it that policies, decisions and working plans of the Provincial CPC Committee and Provincial Government are put into place by financial institutions; to coordinate and support innovative businesses of various kinds of financial institutions so that greater contributions are made to local social and economic development.

  2.        Research and draft long and medium-term plans and working plans on development of the province’s financial sector; to promote a better distribution of financial institutions and coordinate improved distribution of financial resources; to research and analyze current economic and financial development, come up with ideas, policies and suggestions on improving financial environment and services and promoting growth of the financial sector.

  3.        Coordinate and exercise management over local financial institutions; assist and coordinate with branches of state financial institutions in Jiangsu in their supervision over financial institutions of banking, insurance, securities, futures and trust and over self-regulatory organizations; to be responsible for liaison between local governments and branches of state financial institutions in Jiangsu; To help to resolve problems arising from financial reforms and development with a local approach.

  4.        To assist risk monitor and risk warning for financial institutions, and coordinate efforts to prevent, mitigate and deal with financial risks; to help to set up emergency plans; to work with other government departments to investigate and crack down on illegal financial institutions and illegal financial activities so that order in the financial market is maintained; to work with other government departments to improve financial environment.

  5.        To examine and approve the establishment and reform of stock companies in the province; to foster, screen and recommend companies that are to go public, and to guide and facilitate asset restructuring and refinancing of listed companies; to join with securities regulatory agencies in their efforts to help securities and futures institutions and listed companies develop in a healthy way.

         To undertake other duties assigned by CPC Jiangsu Provincial Committee and Jiangsu Provincial Government.

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