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Seventeen years on the streets, living and working with the people of China, Jeff
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My comments
When was the last time your legislature or parliament published in newspapers around the country and on the Internet, posting pending laws in your neighborhood on announcement boards, so that you have the opportunity as a citizen to make comments, critiques and suggestions?
Not only is that true in China, but in Sinoland, foreigners can do the same thing.
When a law like the one that is being proposed and discussed below is announced – financial, industrial, medical, environmental, etc., you can bet your sweet bippy that Judeo-Wall Street hustlers and Talmud-Tanakh City of London banksters will be making comments, trying to persuade China not to pass this law, or at least lessen the oversight. Because, what this one does is, it puts an even bigger proctoscope that Baba Beijing has up their back ends right now. This new proposed law is like putting two gigantic proctoscopes up their back ends.
I know this is true, because during my 16 years living in Mainland China and now a year and a half in Taiwan Province, we used to see these laws being posted in our neighborhoods in glass-covered announcement boards, where they put up opened newspapers, page by page, new proposed laws for all to see. Before Internet in the 90s, citizens could go to their local government to make their recommendations or complaints known. They are definitely duly processed and sent up the ladder to the National People’s Congress (NPC) where these laws are proposed.
The Internet changed a lot of that. Although they still put announcements up in the neighborhoods for older people who may not have Internet or smartphones, today most citizens use the Internet. It’s really easy. You can go to your local government or National People’s Congress website and make your complaints or suggestions known.
Baba Beijing will also send foreigners’ and Judeo-businesspeople’s recommendations to the NPC and they will be considered if the proposed law affects international commerce, trade or international businesses established in Sinoland.
I know these comments make it to the NPC, because if enough citizens rise up and there is a quorum who are against the law as proposed, the NPC will table it and they will go back to discuss it, taking into account what the citizens have to say in their criticisms and recommendations. I saw it happen several times: laws on GMO, facial recognition, personal data abuse, etc.
I know it’s hard to believe in the Kakocratic West, where citizens are completely ignored, heaped with contempt and derision, treated like children until a few months before the next election. Then, Judeo-cronies and crooks in the legislature and executive put on a dog and pony show, saying they’re going to do this, they have their platforms, they’re going to do that, then after they get reelected, they don’t do a damn thing for the next four years or six years except enrich themselves and their billionaire owners.
But it really is true in China and its Chinese democracy.
That’s why China has the most participatory, consensual democracy anywhere on the face of the earth, at least among large countries. There may be some smaller countries around the world that have similar input.
I would say Venezuela would be one of them, although it has been debauched by the Talmud-Tanakh imperialists in Washington. But, North Korea, Vietnam and Cuba for sure. Most communist-socialist countries work this way.
Thus, enjoy seeing how China is controlling its banks. Even though they’re people-owned, they’re all publicly owned, but Baba Beijing is not sitting back and expecting these banks to be, shall we say, virtuous. They’re very competitive out to make money too.
Therefore, banks have to be held in check, surveyed, supervised and controlled by Baba Beijing, now with two big proctoscopes up each one’s backside, using a plethora of laws, regulations and rules! Hapless Western citizens can only wish…
Article
China’s New Financial Law — Draft Released for Review
China’s draft Financial Law of the People’s Republic of China was officially released on March 20, 2026, by the Ministry of Justice, the People’s Bank of China (PBOC), the National Financial Regulatory Administration (NFRA), the China Securities Regulatory Commission (CSRC), and the State Administration of Foreign Exchange (SAFE) for public consultation until April 19, 2026 WilmerHale+1. The consultation period has now ended, clearing the way for the law to move toward enactment as the country’s first comprehensive, foundational statute for the financial sector Global Times.
Purpose and Scope
The 11‑chapter, 95‑article draft aims to:
- Clarify the overall direction and requirements for financial work.
- Establish a modern central banking system.
- Regulate financial institutions (banking, securities, insurance, trusts, etc.) and their activities.
- Standardize financial products and services.
- Optimize the financial market system.
- Strengthen financial regulation and risk disposal mechanisms.
- Coordinate high‑quality financial development with financial security.
- Reinforce legal liabilities WilmerHale+1.
It is designed to unify fragmented regulations, improve governance, and provide legal predictability for the sector Global Times.
Key Provisions
- Regulatory oversight: All financial activities in China must be under regulatory supervision and subject to approvals/licenses Norton Rose Fulbright.
- Risk management: Establishes mechanisms for early‑stage risk mitigation, resolution, and creditor protection Norton Rose Fulbright.
- Financial stability fund: Proposes a financial stability guarantee fund to support systemic resilience Norton Rose Fulbright.
- National security measures: Article 85 grants China the right to impose countervailing measures against countries or regions that “endanger China’s financial security” through discriminatory financial restrictions, including blocking undue extraterritorial application of foreign laws South China Morning Post.
- Asset protection: Creates mechanisms to safeguard overseas Chinese financial assets and requires classification, grading, and protection of financial data, with national security reviews for sensitive data processing South China Morning Post.
Strategic Context
The law aligns with China’s financial superpower ambitions and the October 2023 Central Financial Work Conference’s call to place all financial activities under legal regulation South China Morning Post+1. It reflects years of preparatory work, including proposals in 2024 and reaffirmation by the State Council in 2024 WilmerHale.
Next Steps
With the public review complete, the draft is expected to be debated in the National People’s Congress Standing Committee and then passed into law. Once enacted, it will serve as the top‑level legal framework for China’s financial system, complementing sector‑specific laws and regulations The State Council Information Office of China.
In summary: The new Financial Law is a landmark piece of legislation that will reshape China’s financial governance, strengthen regulation, and embed national security considerations into the sector’s legal foundation.
References
References are hyperlinked in the article above.
Further reading
Chinese Democracy
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44 Days Backpacking in China: The Middle Kingdom in the 21st Century, with the United States, Europe and the Fate of the World in Its Looking Glass https://play.google.com/store/books/details?id=YBKHEAAAQBAJ
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BIG Red Book on China: Chinese History, Culture and Revolution
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44 Days Backpacking in China: The Middle Kingdom in the 21st Century, with the United States, Europe and the Fate of the World in Its Looking Glass
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China Rising: Capitalist Roads, Socialist Destinations
https://www.amazon.com/China-Rising-Capitalist-Socialist-Destinations/dp/0996487042
BIG Red Book on China: Chinese History, Culture and Revolution
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Praise for The China Trilogy:
Why and How China works: With a Mirror to Our Own History
JEFF J. BROWN, Editor, China Rising, and Senior Editor & China Correspondent, Dispatch from Beijing, The Greanville Post
Jeff J. Brown is a geopolitical analyst, journalist, lecturer and the author of The China Trilogy. It consists of 44 Days Backpacking in China – The Middle Kingdom in the 21st Century, with the United States, Europe and the Fate of the World in Its Looking Glass (2013); Punto Press released China Rising – Capitalist Roads, Socialist Destinations (2016); and BIG Red Book on China (2020). As well, he published a textbook, Doctor WriteRead’s Treasure Trove to Great English (2015). Jeff is a Senior Editor & China Correspondent for The Greanville Post, where he keeps a column, Dispatch from Beijing and is a Global Opinion Leader at 21st Century. He also writes a column for The Saker, called the Moscow-Beijing Express. Jeff writes, interviews and podcasts on his own program, China Rising Radio Sinoland, which is also available on YouTube, Stitcher Radio, iTunes, Ivoox and RUvid. Guests have included Ramsey Clark, James Bradley, Moti Nissani, Godfree Roberts, Hiroyuki Hamada, The Saker and many others. [/su_spoiler]
Jeff can be reached at China Rising, [email protected], Facebook, Twitter, Wechat (+86-19806711824/Mr_Professor_Brown, and Line/Telegram/Whatsapp: +33-612458821.
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[google-translator]
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