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Cbrc In China

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In Minaland China, the banking institutions are supervisioned and regulated by The China Banking Regulatory Commission (CBRC). The People’s Bank of China works as the central bank in China(About PBC,2015). The CBRC as the main banking regulator has engaged in stipulating provisions and regulations, drafting related laws and amendments, examining the compliance on the misdoing from the regulated institutions and enforcing penalties, and so on, by following the rules and requirements underlaying the Commercial Banking Law(China’s Role in Global Economic Recovery, 2012).
China joined in the Basel Committee in March 2009 ( Bank of International Settlement, 2009) . CBRC implemented Basel III risk-based capital regulations in June 2012 and enforced …show more content…

The degree of its internationalization is significantly high. Taking the advantage of internationalisation on Chinese currency, the bank carries out the stragtes to explore and expand its cross border businesses in order to be “Going Global”( BOC Annual Report,2013, p40). With the completing corporate finance service and centralised credit systems as well as customer manager mechanism globally, bank of China sponsored 49 export credit projects and 98 overseas merger and acquisition as well as 597 overseas ongoing operation loans( BOC Annual Report, 2013,p40). The domestic RMB-denominated corporate loans is RMB3,688.976 billion with an increase of 6.86% of 2012 and foreign currency denominated corporate loans is USD82.530 billion with an increase of 6.19% than last year ( BOC Annual Report, 2013,p40) . By implementing this “Going Global” strategy, Bank of China has successfully taken a leading position for international business among the peers in the banking industry. We can say that Bank of China has superior degree on globalization of the customers. After 2013, the global economy started to recover and China as a crucial player successfully achieved its steady development and stable economic growth( BOC Annual Report, 2013, p18). Combinate prudent monetary policy and liberating RMB interest rate, China became donimnant in international financial markets. As the result, the banking industry has expanded and increased by 13.3% to RMB151.4 trillion( BOC Annual Report, 2013, p19). Therefore, there is highly interdependent relationship between banking industry of China and global financial

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