China Regulates Financial Statistical Management

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Last updated at: (Beijing Time) Thursday, November 07, 2002

China Regulates Financial Statistical Management

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The People's Bank of China (PBOC) passed regulations Thursday in a bid to adapt to financial system reforms and business development, reinforce financial statistical management and improve the quality of statistics.

The provision is applicable to the central bank as well as both Chinese and foreign financial institutions ratified by the central bank to do financial businesses.

The provision covers all financial statistical practices including material collection, arrangement and analysis, providing statistical information and advice, and financial statistical management and supervision.

It stresses the timely and accurate completion of all financial statistical tasks.

The provision includes detailed regulations on the management of financial statistical materials and surveys, the publication of statistical materials, the duty of statistical departments and statisticians, statistical supervision and examination, as well as related awards and penalties.

The provision is to go into effect on Dec. 15.

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