Article 2 the State Council Banking Regulatory Authority is responsible for the supervision and management of banking financial institutions and their business activities throughout the country.
The banking financial institutions mentioned in this Law refer to commercial banks, urban credit cooperatives, rural credit cooperatives and other financial institutions and policy banks established in People's Republic of China (PRC) to absorb public deposits.
The provisions of this Law on the supervision and management of banking financial institutions shall apply to the supervision and management of financial asset management companies, trust and investment companies, finance companies, financial leasing companies and other financial institutions established with the approval of the banking regulatory authority of the State Council.
The banking supervision institution of the State Council shall, in accordance with the relevant provisions of this Law, supervise and manage the overseas business activities of the financial institutions established with its approval and the financial institutions mentioned in the preceding two paragraphs.
There are four financial supervision institutions in China: China Securities Regulatory Commission, China Banking Regulatory Commission, China Insurance Regulatory Commission and China People's Bank.
Article 6 The banking supervision institution in the State Council shall establish a supervision and management information sharing mechanism with the People's Bank of China and other financial supervision institutions in the State Council.
Article 7 The banking supervision institution of the State Council may establish a supervision and management cooperation mechanism with the banking supervision institutions of other countries or regions to implement cross-border supervision and management.