Tags: Government Agency.
The China Banking Regulatory Commission (CBRC) is an agency of the People’s Republic of China (PRC) authorised by the State Council to regulate the banking sector of the PRC except the territories of Hong Kong and Macau both of which are special administrative regions. In response to their swelling debt loads undercapitalization and non-transparent business practices the government of China recapitalized the banks and set up the CBRC as the country’s independent banking regulator in 2003.