China Banking Regulatory Commission (CBRC) was officially launched on 28 April 2003, taking over the supervisory role of the PBOC.

The goal of the landmark reform is to improve the efficiency of bank supervision and to help the PBOC to further focus on the macro economy and currency policy.

The CBRC is responsible for the regulation and supervision of banks, asset management companies, trust and investment companies as well as other deposit-taking financial institutions.

Its mission is to maintain a safe and sound banking system in China.