Shanghai Municipal Financial Regulatory Bureau is a constituent body of the Shanghai Municipal People’s Government in charge of financial supervision and administration work, which also serves as Shanghai Financial Work Bureau.

Main responsibilities are as follows:

1. Implement laws, regulations, principles and policies for municipal financial regulation as well as those for building Shanghai into an international financial hub. Draft local regulations and policies for the two abovementioned purposes and implement them.

2. Formulate plans for Shanghai’s development into an international financial hub, mid-to-long-term financial industry development and annual work plan and implement them.

3. Based on the rules set by the central financial regulatory authority, regulate seven kinds of institutions, namely micro-loan companies, financing guarantee companies, regional equity market, pawnbrokers, finance lease companies, commercial factoring companies and local asset management companies, and deal with risks thereof. Enhance regulation over investment companies, social crowd-funding institutions and various transaction places within its jurisdiction.

4. Exercise access management over the institutions and businesses under their regulation according to relevant rules and carry out regular supervision and administration. Carry out inspections and risk compliance assessment, and deal with violations. Perform statistical work on the institutions under their regulation and set up a system for risk monitoring, assessment and warning. Follow, analyze, monitor and forecast local financial operations.

5. Crack down on illegal acts including financial fraud, illegal fundraising, illegal securities and futures trading, illegal trading sites and illegal online financing activities in accordance with relevant laws and regulations. Establish a coordinating mechanism for financial stability and improve plans and mechanisms for financial emergencies response. Coordinate efforts to prevent and defuse financial risks to safeguard financial stability and security.

6. Guide, review and supervise district governments’ performance in financial regulation and financial risk prevention and reduction, and propose accountability suggestions.

7. Promote development of the financial market system and accelerated innovation and development of the financial factor market. Facilitate innovation of products and tools in the financial market, enhance services of the financial market and its ability to allocate domestic and foreign resources. Foster construction of financial market infrastructure.

8. Promote development of modern financial institution system, formulate policies and measures to support financial institution development and put them into practice in collaboration with relevant departments. Facilitate agglomeration of various financial institutions and their development in Shanghai and improve their core competitiveness.

9. Give full play to the role of the financial sector in serving major national strategies and local economic and social development, and develop inclusive and green finance. Promote the development of trade finance, shipping finance and technology finance. Review the listing application of enterprises and facilitate listing of enterprises that have finished restructuring. Encourage merger, acquisition and restructuring of listed companies via capital market.

10. Optimize the environment for financial development and improve law-based governance in the industry. Enhance financial supervision and coordination and promote protection of financial consumers’ and investors’ legitimate rights and interests. Promote the development of a credibility platform for the financial industry to enhance exchange and sharing of information. Enhance public service for financial talents and facilitate development of professional financial service institutions and self-governed organizations.

11. Work with relevant departments to formulate plans for distribution of financial functions, improve spatial layout of the financial industry and enhance support and guidance for the financial service areas.

12. Strengthen regional financial cooperation, boost financial cooperation and coordinated development in the Yangtze River Delta region as well as exchange and collaboration in the sector with Hong Kong and Macao special administrative regions and Taiwan province. Deepen cooperation and exchange with other international financial  centers. Oversee work on introduction and publicity of the drive to build Shanghai into an international financial hub.

13. Other additional tasks assigned by the CPC Shanghai Municipal Committee and the Shanghai Municipal People’s Government.