- CNTV English - CCTV News

Homepage > News > Biz >

China's financial sector steps up self-examinations

08-11-2010 10:00 BJT

BEIJING - China's banking, securities and insurance regulatory commissions have launched self-examinations to push forward the financial sector's anti-corruption campaign.

In a bid to improve the country's financial supervision system, standardize the behaviors of financial practitioners and guard against financial risks, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission developed their own codes of conducts last year.

Required by the Central Commission for Discipline Inspection (CCDI)of the Communist Party of China (CPC), the three Commissions launched in March self-examinations on the implementation of their respective codes of conduct.

About 3,857 banking organizations and 193,000 business outlets have been covered by the examinations.

Through the examination, risk control in banking organizations has been improved and their management mechanisms have been standardized, according to a CCDI statement issued Tuesday.

Meanwhile, China Insurance Regulatory Commission punished 1,392 insurance organizations and ordered the dismissal and replacement of 156 managerial staff between 2009 and June 2010 to strengthen the supervision of insurance organizations and the management on managerial staff.

"The lessons drawn from the global financial crisis warn us that China's banking industry should deepen education in ethics among practitioners so as to ensure stable, coordinated and sustainable development of the industry and to safeguard the legitimate rights of depositors and customers," said Wang Huaqing, secretary of the discipline inspection committee under the China Banking Regulatory Commission.

The code of conduct for the banking industry includes items requiring practitioners to guard against fraud, illegal fund raising, bribery and insider trading.

Editor:Xiong Qu |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program