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What type of institution is the newly established Provincial Financial Commission, and who is the higher level of the director of the Provincial Financial Commission or the governor of the Provincial People's Bank?
Don't worry, let's unravel this mystery together.
First of all, let's understand the identities of the two protagonists. In March 2023, the Communist Party of China issued the "Plan for the Reform of Party and State Institutions". Establishment of the Financial Commission. The Financial Stability and Development Committee and its offices will no longer be retained. The director of the provincial financial commission at the provincial level, who is in charge of financial affairs at the provincial level, is responsible for coordinating various financial institutions and participating in the formulation of financial policies in the province.
The governor of the Provincial People's Bank is the head of the provincial People's Bank of China, responsible for managing monetary policy, supervising financial institutions, and maintaining the stability of the financial system.
Both play a key role in the provincial financial sector and have considerable powers and responsibilities. To determine who is higher, we can start from the job level.
The director of the Provincial Financial Commission holds an important position in the provincial ** system, responsible for formulating and implementing financial policies in the province, and participating in the decision-making of the provincial economic development plan. The governor of the Provincial People's Bank of China directly manages the provincial People's Bank institutions and participates in the formulation of monetary policy, and is a senior leader of the financial system.
From this point of view, both have equal positions and status, and both are important components of provincial leadership.
However, we need to look beyond the position alone, we also need to consider the actual power and room for maneuver. The governor of the Provincial People's Bank of China is involved in the formulation and implementation of monetary policy, but in practice, he may be constrained by the policy and the leadership at the higher level. The director of the Provincial Financial Commission is responsible for coordinating various financial institutionsIt has greater autonomy within the financial system of the province, and has a more direct impact on the development of the financial sector.
From this point of view, the director of the provincial financial commission may have a wider operating space.
In addition to this, we also have to consider the position of the two protagonists in the political system of the province. Since the director of the Office of the Financial Commission is a member of the Politburo and a vice premier, the rank is at the vice-national level.
A few days ago, the Financial Commission of the Jiangsu Provincial Party Committee, the Financial Working Committee of the Jiangsu Provincial Party Committee and the Local Financial Administration of Jiangsu Province were officially unveiled. According to the report, the staffing of local financial commissions, financial offices, and financial management bureaus is from the perspective of the provincial and municipal financial commissions, financial offices, and financial management bureaus that have been listed in ChinaThe basic personnel arrangement is that the governor will serve as the director of the Financial Commission, the vice governor in charge of finance will serve as the director of the Office of the Financial Commission and the secretary of the Financial Working Committee, and the former director of the local financial supervision bureau will serve as the deputy director of the Office of the Financial Commission in charge of daily affairs
The governor of the provincial People's Bank is directly subordinate to the financial system, and his status is more independent in the financial field. The head office of the central bank is a national ministry at the same level as the "Ministry of Finance and the Audit Office", and is one of the "cabinet departments", and the governor is a leading position of civil servants at the ministerial level. The general provincial branch line is at the department level.
In the political system, although the two positions intersect, from the perspective of professionalism and development, the Provincial Financial Commission has a higher level and importance.
Finally, we also have to consider the contributions and influence of the two protagonists to the financial sector. The director of the Provincial Financial Commission influences financial policies through the best channels and promotes the development of financial institutions to serve the real economy. The governor of the Provincial People's Bank of China is directly involved in the implementation of monetary policy, which has a direct impact on monetary and financial stability.
In this regard, both have their own focuses, and their contributions and impacts cannot be ignored. To sum up, although the director of the Provincial Financial Commission and the governor of the Provincial People's Bank of China both play important roles in the provincial financial field, in terms of actual power, position, political independence, and contribution to financial affairs, the director of the Provincial Financial Commission is superior.
What do you think?