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Body of the Central Committee of the Chinese Communist Party From Wikipedia, the free encyclopedia
The Central Financial Commission (CFC) is a commission of the Central Committee of the Chinese Communist Party (CCP) that supervises and manage the Chinese financial system.
| 中国共产党中央委员会金融委员会 | |
| |
| Abbreviation | Chinese: 中央金融委员会 |
|---|---|
| Formation | March 2023 |
| Type | Commission directly reporting to the Central Committee of the Chinese Communist Party |
| Headquarters | Beijing Financial Street |
Region | Mainland China |
Leader | Li Qiang |
Office Director | He Lifeng |
Parent organization | Central Committee of the Chinese Communist Party |
| Central Financial Commission | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中央金融委员会 | ||||||
| |||||||
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.[1][2] According to Chinese state media, the new body would strengthen the CCP's "centralized and unified leadership over financial work".[3][4] The CFC oversaw the dissolution of the Financial Stability and Development Committee (FSDC), a State Council body established in 2017,[5] with FSDC's office being absorbed into the CFC.[6]
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.[6]
The CFC's role is to broadly oversee the country's financial system, enhancing CCP control over the sector.[5] 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.[7]
The CFC includes a General Office that handles its day-to-day operations. The General Office is located at the Beijing Financial Street.[6]
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