What real power does the Financial Office have?

Legal analysis: Financial Office is a subordinate institution of local government, generally regarded as an office under the jurisdiction of local government, generally a department-level unit, and its business is guided by the superior finance bureau. There is no mutual jurisdiction between the Financial Office and the Banking Regulatory Bureau, so there is no superior.

Legal basis: Guiding opinions of China Banking Regulatory Commission and China People's Bank on the pilot of microfinance companies.

Article 5 Only when the provincial government can make it clear that a competent department (financial office or relevant institution) is responsible for the supervision and management of microfinance companies, and is willing to assume the responsibility of risk disposal of microfinance companies, can the pilot project of setting up microfinance companies be carried out within the province (autonomous region, city) and county.