The State Financial Regulatory Administration Inaugurated

HUAI'AN, CHINA - JULY 19, 2023 - Workers install a plaque of "Huai 'an Supervision Bureau" in July 20, 2023, in Huai 'an city, Jiangsu province, China. On the morning of July 20, the State Financial Supervision and Administration of 31 provincial regulatory bureaus and 5 planned separate municipal regulatory bureaus and 306 municipal regulatory bureaus were unified. According to the reform plan of Party and State institutions issued in March this year, the State Financial Regulatory Administration will be established on the basis of the China Banking and Insurance Regulatory Commission. The China Banking and Insurance Regulatory Commission will no longer be retained. On May 18, the State Financial Regulatory Administration was inaugurated. (Photo credit should read CFOTO/Future Publishing via Getty Images)