Provincial local financial supervision bureaus should further strengthen local financial supervision responsibilities, eliminate blind spots and gaps in supervision, improve their ability to prevent and deal with financial risks, do a good job in cracking down on various illegal financial activities in their jurisdictions, improve the efficiency of financial resource allocation, solve the problem of insufficient financial development imbalance, promote financial resources to better serve the real economy, deepen local financial reform, and accelerate the construction of a strong financial province. At the provincial level, the local financial supervision and administration bureau is still directly under the government, and the financial office has been reformed into a subsidiary of the local financial supervision and administration bureau. The main purpose is to clearly assign local financial supervision responsibilities to local governments and strengthen the supervision and management functions of local finance, thus forming dislocation supervision and complementing each other with PBOC, banking regulatory bureau, insurance regulatory bureau and securities regulatory bureau at the same level.
What is the function of Guangdong Provincial Local Financial Supervision Administration?
(1) Organize the drafting of relevant local laws and regulations, formulate plans and policies to support the development of local financial industry and organize their implementation.
(II) Responsible for the supervision of small loan companies, financing guarantee companies, regional equity markets, pawn shops, financial leasing companies, commercial factoring companies and local asset management companies in the province, responsible for the supervision of commodity, environmental rights and intellectual property trading places, and strengthening the supervision of investment companies, farmers' professional cooperatives that carry out credit mutual assistance and social crowdfunding institutions.
(3) To monitor and prevent local financial risks. Take the lead in emergency work to prevent and deal with illegal fund-raising and financial emergencies. Cooperate with relevant departments to investigate and crack down on illegal financial institutions and illegal financial business activities, and participate in the risk prevention and disposal of financial markets and financial institutions carried out by relevant departments.
(4) Promote financial reform and innovation in the whole province. Strengthen coordination and cooperation with relevant departments to serve the development of the province's financial industry. Promote the development of bank credit market, multi-level capital market and insurance market, and strengthen the function of financial services to the real economy.
Legal basis:
Interim Measures for the Supervision and Administration of Local Trading Places in Liaoning Province
Article 12 The local financial supervision department at the provincial level shall, jointly with the competent department of industry, conduct on-site inspection and off-site supervision on the business activities and risk status of local trading places according to law, establish and improve the supervision and management system, and determine the corresponding supervision and disposal measures that need to be taken according to the risk status of local trading places.
Interim Measures for the Administration of Business Activities of Personal-to-Personal Loan Information Intermediaries
Article 2 Unless otherwise provided by laws and regulations, these Measures shall apply to the information intermediary business activities of person-to-person lending in China. The term "local financial supervision department" as mentioned in these Measures refers to the department that the provincial people's government undertakes the responsibility of local financial supervision.