Institutional Responsibility

  • Institutional Responsibility

           Beijing Municipal Bureau of Financial Work, established in March 2009, is a municipal government agency responsible for promoting the city’s financial development, financial services, and financial market construction.
           Main responsibilities:
           (I) Implement the national laws, regulations, rules, and policies on finance; cooperate with the national financial management department in Beijing to do a good job in monetary policy implementation and financial supervision; study and formulate financial development plans and policy measures in the city, and be responsible for the organization and implementation.
           (II) Guide and promote the construction and development of the city's financial market and factor market system; organize the promotion of multi-level capital market development; guide and standardize the establishment and development of various exchanges; and coordinate and promote the trial and development work of non-listed joint-stock companies entering the stock transfer system of securities companies in this city.
           (III) Coordinate the promotion of corporate financing in this city; coordinate the promotion of corporate listing and mergers and acquisitions; reconcile and promote the issuance of debt financing instruments such as corporate bonds, short-term financing bills and medium-term notes; guide and promote regulatory development of venture capital funds, equity (industry) investment funds.
           (IV) Coordinate and promote rural financial reforms and development; optimize the rural financial development environment; promote the construction of rural financial systems and product service innovation; guide the construction and development of rural financial comprehensive reform pilot zones; and coordinate and promote the enhancement of ability to support and benefit agriculture, rural areas and farmers of agricultural-related financial institutions and intermediary service agencies.
           (V) Coordinate and promote the development of the city's financial development environment, establish and improve a financial service system, and provide services for the state's financial management department and financial institutions in Beijing.
           (VI)Coordinate financial institutions in Beijing to serve the economic development of the capital; Participate in the reform of the city's investment and financing system; Study and formulate policies and measures to guide the development of social financing; Participate in the research and development of government financing plans for major projects; coordinate the use of various financial instruments and platforms for financial institutions, and provides financing support services for key projects, leading industries, important regional development, and development of SMEs.
           (VII) Coordinate and guide financial services to the people's livelihood; guide and coordinate financial institutions to innovate service products, expand service scope, extend service areas, and improve service efficiency.
           (VIII) Promote the construction of the city's financial credit system; coordinate with related departments to promote the construction of corporate and personal credit information systems; participate in the establishment of credit information sharing exchange system and credit reward and punishment mechanism.
           (IX) Study and formulate plans for the overall development of the financial industry in Beijing and promote the rational distribution of financial institutions; guide the construction and development of financial functional zones and financial backstage parks; guide the entering of relevant financial management departments and financial institutions to enter; supervise and analyze development of financial functional zones and financial background parks.
           (X) Be responsible for the approval and supervision of small loan companies in Beijing; be responsible for the establishment, change approval and daily supervision of financing guarantee agencies; undertake the property confirmation responsibility for the listing of collective restructuring enterprises; and assume the corresponding authorized supervisory duties for municipal financial institutions and local approval financial institutions; guide and standardize the development of financial intermediaries.
           (XI) Promote the reform and restructuring of municipal financial institutions; coordinate and cooperate with relevant departments to prevent, resolve and dispose financial risks; coordinate relevant departments to do a good job in cracking down on illegal fund-raising, illegal securities business activities, illegal futures businesses, illegal foreign exchange trading and anti-money laundering, and anti-counterfeit money work; be responsible for the construction of the city's financial emergency response mechanism.
           (XII) Guide and coordinate the development and management of financial talent resources and the construction of financial talent team in Beijing.
           (XIII) Undertake other tasks assigned by the municipal government.