Study on Local Financial Market Development and Supervisory Framework (ADB-48010-001)

Countries
  • China
Where the impacts of the investment may be experienced.
Specific Location
Liaoning Province
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Canceled
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 30, 2014
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
People's Republic of China, Liaoning Provincial Financial Department
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Oct 31, 2017

Disclosed by Bank Sep 21, 2016


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Project Description
According to ADB website, the current financial regulatory structure in PRC is sector based; as the central bank, Peoples' Bank of China (PBOC) is responsible for monetary policy and the stability of the financial system in general, while the China Banking Regulatory Commission (CBRC), China Securities Regulatory Commission (CSRC), and China Insurance Regulatory Commission are central authorities responsible for regulating banking, securities, and insurance sectors. Since 2008, the decentralization of financial supervision gradually started. This was reinforced by PRC's 12th Five-Year Plan, which sets out the goal of improving local financial management system and strengthening the responsibility of provincial government for managing the local medium and small financial institutions. In 2012, Premier Wen Jiabao also requested to strengthen the provincial government financial supervision responsibility and awareness. The impact will be the development of more effective and sustainable local financial systems. The outcome will be the successful implementation of local and regional financial sector and regulatory reforms based on the study outputs of the TA.
Investment Description
  • Asian Development Bank (ADB)
Contact Information
Project Officer: Lee, Seung Min East Asia Department, ADB No contact information provided at the time of disclosure. ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main