Main Responsibilities for Shanghai Municipal Financial Regulatory Bureau

Shanghai Municipal Financial Regulatory Bureau is a Shanghai municipal governmental department in charge of financial supervision and administration work in Shanghai, which also serves as Shanghai Financial Work Bureau. Its main responsibilities are as the following:

1. Implement laws, regulations, principles and policies of municipal financial supervision and administration as well as those for building Shanghai into an international financial . Draft municipal regulations and design policies for the two purposes above and implement.

2. Draft plans for Shanghai’s development into an international financial , mid- to long-term financial industry development and annual work plan and implement such plans.

3. Based on the central financial supervision and administration sector’s principle, supervise and deal with risks for seven kinds of institutions, namely micro-loan companies, financing guarantee companies, regional equity market, pawnbrokers, finance lease companies, commercial factoring companies and local asset management companies. Enhance supervision and administation over investment companies, social crowd-funding institutions and various transaction places within its administration area.

4. Implement access management over the institutions and businesses it watches according to relevant rules and carry out daily supervision and administration. Examine and assess the risk compliance and crack down on the violations. Perform statistical work on the institutions they supervise and set up a system for risk monitoring, assessment and alarm. Follow, analyze, monitor and forecast condition of local financial operation.

5. Crack down on illegal acts including financial fraud, illegal fundraising, illegal securities and futures, illegal trade sites and illegal Internet finance. Establish a finance stabilizing and coordinating mechanism and improve plans and the mechanism to deal with financial emergencies. Work to settle financial risk prevention and solution to guarantee financial stability and safety.

6. Instruct, examine and supervise district governments’ work on financial supervision and management and financial risk prevention and treatment as well as hold the latter accountable.

7. Promote construction for financial market construction and rapid innovation and development for financial element market, encourage financial market to innovate on the products and tools and improve the financial market’s service function and ability to allocate domestic and foreign resources. Boost construction of financial market infrastructures.

8. Promote construction of modern financial institution system, draft policies and measures for service and financial institution development and put them into practice together with relevant departments. Attract and gather financial institutions to develop in Shanghai and improve their core competence.

9. Utilize finance to serve for national strategies and local economic and social development and develop inclusive and green finances. Promote development of trade finance, shipping finance and technology finance. Examine and approve company listing and promote listing after enterprise restructuring. Encourage merger, acquisition and restructuring of listed companies using the capital market.

10. Optimize the finance development environment and improve law-based governance in the industry; enhance financial supervision and coordination and promote protection over financial consumers’ and investors’ legal rights. Promote construction of the financial industry credit platform and connection and sharing of information. Enhance public service for financial talent and facilitate development of professional financial service institutions and self-governed organizations.

11. Work with relevant departments on the financial functional area layout, improve on the financial industry space and enhance service and guidance for the financial functional areas.

12. Strengthen regional financial cooperation; boost financial cooperation and coordinated development in Yangtze River Delta as well as more exchange and collaboration in the sector with Hong Kong, Macau and Taiwan regions and other international financial  cities. Work on relevant publicity for building Shanghai into an international financial .

13. Other missions assigned by the CPC Shanghai Committee and the Shanghai Municipal Government.