The China Banking Regulatory Commission (CBRC) will officially open a bureau in Shanghai this week with the primary goal of watching over the city's banking sector. The CBRC will fill the bank supervisory role held by central bank People's Bank of China's Shanghai branch.
The CBRC is a regulatory body established last April charged with supervising and managing China's domestic banking sector. In addition to its Shanghai bureau, the CBRC will open 31 provincial bureaus by next Monday.
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