China’s State Financial Supervision Bureau: Let the regulatory system truly become a “live high-voltage line”

China News Service, Beijing, October 19 (Reporters Wang Mengyao and Wang Enbo) At the opening ceremony of the 2026 Financial Street Forum Annual Meeting held on the 19th, Ding Xiangqun, director of the State Administration of Financial Supervision of China, said that the regulatory system must truly become a "live high-voltage line."

Ding Xiangqun said that at present, the overall operation of China's banking and insurance industry is stable, large institutions are operating steadily, the reform and de-risking of small and medium-sized institutions are advancing in an orderly manner, and risks are generally controllable.

She mentioned that we should focus on key areas and take the initiative to mitigate risks. Improve the disposal mechanism, enrich risk management resources, comprehensively use mergers and reorganizations, market exits and other methods to properly dispose of high-risk institutions and promote continued risk convergence. Strengthen coordination and linkage and eliminate regulatory gaps. We will work with all parties to severely crack down on illegal financial activities, strengthen the supervision of financial activities across regions, departments, new formats and new products, and bring all financial activities under supervision in accordance with the law.

She said that in recent years, the construction of China's financial rule of law has entered the fast lane, and significant progress has been made in the legislative amendments to the Financial Law, the Banking Supervision Law, and the Insurance Law, and the regulatory system is also accelerating to improve. The key to practicing the rule of law lies in the simultaneous establishment of systems and enforcement. On the one hand, focusing on the need for strong supervision of different types of institutions to prevent risks, as well as new situations and new issues such as cooperation between institutions and third parties, network security, etc., we must speed up the filling of shortcomings and strengthen the institutional firewall. On the other hand, we must seriously investigate and deal with key people, key matters, and key behaviors that cause major financial risks, strengthen rigid constraints, and enhance the deterrent effect, so that the regulatory system can truly become a "live high-voltage line."

Ding Xiangqun said that currently, the operating environment, structural characteristics and risk patterns of the financial industry have undergone profound changes, and it is necessary to keep pace with the times and improve the level of regulatory capabilities. She mentioned that we should focus on source prevention and control, improve monitoring and early warning response mechanisms, optimize classified and hierarchical supervision, implement mandatory early corrections, and achieve continuous supervision of the entire process and chain. Focus on targeted efforts, adhere to "substance over form", standardize shareholder behavior and executive performance, and strengthen penetrating supervision of related transactions, large-amount investment credit, etc. Focus on technological empowerment, accelerate digital and intelligent transformation, enrich the toolbox, build a "combination punch", continuously improve supervision methods, and enhance the quality and efficiency of supervision. (over)