National People’s Congress Zhu Surong: Proposed amendment to the People’s Bank of China Law

NationalPeople’sCongressZhuSurong:ProposedamendmenttothePeople’sBankofChinaLawOnMay21,Chinaenteredthe”twosessions”time.ZhuSurong,thelong-timeSh

National People’s Congress Zhu Surong: Proposed amendment to the People’s Bank of China Law
On May 21, China entered the “two sessions” time.Zhu Surong, the long-time Shenyang branch representative of the National People’s Congress, brought this year’s “Proposal on Amending the” People’s Bank of China Law “”.He suggested that the role and role of the transition in the supervision and coordination mechanism of the Financial Commission should be clarified to provide a clear legal basis for the gradual macro-prudential management and performance of duties, divide the relevant content of financial consumer rights protection, and improve the relevant provisions of financial supervision and management.Zhu Surong said that the existing People’s Bank Law has four major deficiencies. One is that there is no legislative basis for the responsibilities in the supervision and coordination mechanism of the Financial Commission. The second is to summarize the new statutory regulations such as macro-prudential management and lack of legal support.The relevant provisions on protection measures are missing. Fourthly, regulations on financial supervision and management need to be supplemented urgently.Among them, with regard to the protection of financial consumer rights and interests, Zhu Surong said that he has taken the lead in the protection of financial consumer rights for a long time and has a coordinating and coordinating role. In the long-term practice of the protection of financial consumer rights and interests, the basic system in the field of financial consumer rights protectionThe implementation of industry standards and the application of relevant rules have shown that transition is the most suitable responsibility bearer. From the perspective of the comprehensiveness of the scope of the regulatory body and the regulatory needs to maintain financial stability, the transformation of financial consumer rights into the People ‘s Bank Law is moreConducive to the control of administrative costs.It is recommended that “People’s Bank Responsibilities” of Article 4 of the People’s Bank of China Law states “responsible for the protection of the rights and interests of financial consumers, and supervise and guide the protection of the rights and interests of financial consumers of financial institutions.”In the “financial supervision and management” chapter, the responsibility of financial consumer rights protection inspection and supervision was added.Sauna, Ye Wang Cheng Weimiao Editor Zhao Ze proofreading Li Xiangling