BEIJING, April 8 (Xinhua) -- County-level regulatory branches of the National Administration of Financial Regulation (NAFR), the Chinese financial regulator, were inaugurated on Monday, reported Xinhua Finance citing news from the NAFR on April 8.
The collective inauguration of NAFR's county-level branches, which marked the formal establishment of its four-tier vertical management system, further optimized the organizational system for financial regulation and supervision and demonstrated an important progress in financial regulatory system reform.
Moreover, their inaugurations are expected to lay a solid foundation for building a complete and effective modern financial regulatory system and fostering development of financial regulation and supervision of higher quality.
During the inauguration ceremony, heads of the NAFR county-level branches pledged to focus on strengthening five-pronged regulation and serving as the strong frontiers for related regulatory work to well boost sci-tech finance, green finance, inclusive finance, old-age finance and digital finance for county-level economic and social development. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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