Central Financial Commission
- 1 min read
- 3 chapters
Explore on Lably
ToursExplore Lably’s 3D toursHistory
The CFC was established in 2023 under CCP general secretary Xi Jinping after wide-ranging reforms to change the party and state structures, together with the Central Financial Work Commission. According to Chinese state media, the new body would strengthen the CCP's "centralized and unified leadership over financial work". The CFC oversaw the dissolution of the Financial Stability and Development Committee (FSDC), a State Council body established in 2017, with FSDC's office being absorbed into the CFC.
The CFC began operations in late September. The CFC Office has drawn personnel from other financial institutions such as the People’s Bank of China, the Ministry of Finance, and the National Development and Reform Commission.
Sign in to keep reading
2 more chapters are free with a Lably account.
Functions
The CFC's role is to broadly oversee the country's financial system, enhancing CCP control over the sector. It oversees financial stability, funding for the real economy and the international use of the renminbi. It also has the mandate to manage financial planning and take action against systemic risks.
The CFC includes a General Office that handles its day-to-day operations. The General Office is located at the Beijing Financial Street.
Composition
20th Central Committee
- Leader
- Li Qiang (2023–)
- Deputy Leader(s)
- To be announced
- Members
- To be announced
- Director of the Office of the Commission
- He Lifeng (2023–)
- Deputy Director(s) of the Office of the Commission
- Wang Jiang (2023–, executive deputy director)
- Xia Xiande (2023–, deputy director)