Recently, the China Banking Regulatory Commission ("CBRC") has issued the Main Tasks of the China Banking Regulatory Commission for Making Government Affairs Transparent in 2017 (the "Main Tasks").
The Main Tasks set out 10 specific requirements from four perspectives, including "strengthening government affairs transparency in core fields", "stepping up efforts to develop the mechanism for transparency in government affairs", and "improving interpretations to significant policies and responses to social concerns". The Main Tasks make it clear that efforts will be stepped up to disclose information on supporting the national development strategies, serving the supply-side structural reform, preventing and controlling financial risks in core fields and on other aspects; also, efforts will be made to pay close attention to domestic and overseas public opinions on bank credit, financial market operations and Internet finance etc. Additionally, the Main Tasks call for effectively interpreting certain policies on differentiated loans and affordable housing projects of security nature, surrounding on the regulation and control over the real estate sector; announcing in a centralized manner the inventory of government-fixed prices and government-guided prices for commercial banks' services and the inventory of intermediary service items subject to administrative approval. Further, the Main Tasks stress that in case of government affairs and opinions on any extraordinarily serious emergency that happens to the banking sector, authoritative information must be disclosed in five hours at latest and a press conference must be held within 24 hours.