SinoInsight 1
The China Banking Regulatory Commission (CBRC) held its annual banking supervision and management work conference from Jan. 25 to Jan. 26. During the conference, the CBRC laid out its work plans for the year.
OUR TAKE
The CBRC’s 2018 work plan covers similar ground to what CBRC head Guo Shuqing said in his Jan. 17 interview with the People’s Daily.
Banks and holding companies will be the focus of future supervision work. Chinese conglomerates like Anbang Group that utilize various capital operations to achieve rapid expansion are facing increased political risk.
SinoInsight 2
From Jan. 18 to Jan. 26, a total of 42 officials in 26 provincial public security bureaus, courts, and procuratorates were reshuffled. Over 90 percent of the officials who received promotions or were transferred are born in the 1960s, and more than 80 percent of the reshuffle involved officials moving to a different region from where they were previously. The heads of the court and the procuratorate were simultaneously replaced in 11 provinces, while the Public Security Bureau chief, chief judge, and chief procurator were all changed in the provinces of Zhejiang and Fujian.
OUR TAKE
The personnel changes are linked with the recently announced “sweeping black” anti-organized crime campaign. The “sweeping black” drive aims at removing the “protective umbrellas” of local mafia in grassroots governments, and the reshuffling of officials achieves this effect.
