GF 303

(d)

CONFIDENTIAL

14

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The

the

general level of operational efficiency in

banking sector is low, and the quality of

service leaves much to be desired.

23.

(e)

Prudential supervision of banking operations is

lax, resulting in widespread chaos and abuse at

the provincial and local levels more recently.

(ii) The securities system

The following table shows the key institutions in China's securities system:

China's Securities system

State Council

Regulatory bodies

State Council Securities Policy Committee

(国务院证券委員會)

unified macro control of securities markets

China Securities Regulatory Commission

中国証券監督管理委員會

an expert organisation for implementation of regulatory policy

Shanghai Securities

Regulatory

Commission

Other provincial

commissions,

issuers and related institutions e.g. securities companies,

trust and investment companies

Shenzhen Securities

Regulatory

Commission

Shanghai Stock Exchange

China Securities

Association

中国証券協魯

CONFIDENTIAL

Shenzhen Stock

Exchange

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