Deputy director of Liaoning banking and Insurance Regulatory Bureau was promoted to director.
Recently, the website of Liaoning banking and Insurance Regulatory Bureau updated the information of the Bureau’s leaders. Tan Zhen, the former deputy secretary and deputy director of the Bureau’s Party committee, has been promoted to Secretary and director of the Party committee.
According to his resume, Tan Zhen was born in March 1972 with a postgraduate degree and a master’s degree in economics. In May 2020, Tan Zhen served as Deputy Secretary of the Party committee and deputy director of Liaoning banking and Insurance Regulatory Bureau. Before being transferred to Liaoning banking and Insurance Regulatory Bureau, Tan Zhen successively served as the director of the supervision department of urban commercial banks of the city banking department of the Former Banking Regulatory Bureau, the former member and deputy director of the Party committee of Guangdong banking regulatory bureau, the member of the preparatory group of Guangdong banking and Insurance Regulatory Bureau, and the member and deputy director of the Party committee of Guangdong banking and Insurance Regulatory Bureau.
Wang Shengbang, the last director of Liaoning banking and Insurance Regulatory Bureau, was transferred back to the CBRC in the second half of 2021 as the director of the rural banking department of the CBRC.
At present, the leading group of Liaoning banking and insurance regulatory bureau is: Tan Zhen, secretary and director of the Party committee, Ma Dan and Cui pijie, members and deputy directors of the Party committee, Zhi bin, member of the Party committee and Secretary of the Discipline Inspection Commission, Fu Mingquan, first-class inspector, and Qi Shiyi, second-class inspector.
Tan Zhen himself has rich experience and theoretical knowledge in the supervision of urban commercial banks. During his tenure in Guangdong, he has written relevant articles for many times, involving the reform experience of urban commercial banks in Guangdong and the potential risks of cooperation between banks and Internet companies.
In the article “strictly controlling risks, controlling chaos, improving regulatory efficiency – promoting the deepening reform and scientific development of Guangdong city commercial banks”, Tan Zhen mentioned the rectification of shareholders’ misconduct, saying that to prevent shareholders from obtaining improper interests through related party transactions and ensure that shareholders exercise their rights in accordance with the law. He put forward three measures: first, strengthen the management of shareholders’ equity; Second, strengthen the management of related party transactions; Third, strengthen the management of new shareholders.
In terms of strengthening the construction of regulatory capacity, Tan Zhen mentioned above that the comprehensive use of off-site information, the pertinence of on-site inspection, the prudence of administrative licensing, the effectiveness of work linkage and the deterrence of punishment and accountability should be improved.
For the potential risks of cooperation between banks and Internet companies, Tan Zhen once wrote that the cross-border strategic cooperation between banks and Internet enterprises has promoted the mixed operation pattern of China’s financial industry to a certain extent, which also brings some challenges to the mode of separate operation and supervision in China at the present stage.
He pointed out in the article that it is necessary to strengthen “penetration supervision” and prevent regulatory arbitrage. In accordance with the principle of substance over form, we should connect the source of funds, intermediate links and final investment penetration, deeply analyze the business essence, legal relationship and risk characteristics of the cooperation between banking institutions and Internet companies, and implement the corresponding regulatory rules.
In this regard, he suggested that we should focus on three aspects: first, whether we have obtained the corresponding financial license according to law, or whether we carry out financial business beyond the scope of the license; Second, whether the corresponding regulatory rules have been followed; Third, whether risk control measures matching the nature and level of risks undertaken have been implemented. At the same time, we should actively study the application of financial technology related technologies in the field of supervision, make full use of big data, artificial intelligence and other development of supervision technology (regtech), improve the ability of risk screening, prevention and resolution, and make full use of technology to improve the efficiency of supervision.
In terms of practical experience, when Tan Zhen served as deputy director of Liaoning banking and Insurance Regulatory Bureau, Liaoning Province is vigorously promoting the reform of urban commercial banks.
On January 20, 2021, the executive meeting of Liaoning Provincial People’s Government studied and promoted the overall reform of urban commercial banks in Liaoning Province. The meeting made it clear that by applying for the establishment of a new provincial urban commercial bank, 12 relevant urban commercial banks in Liaoning Province will be merged.
In May of the same year, Liaoning planned to issue “special bonds for supporting the development of small and medium-sized banks in Liaoning Province in 2021 (phase I)”, raising 10 billion yuan to inject into the newly established urban commercial bank. The bond raised funds will be injected into Xincheng commercial bank by Liaoning financial holding for its capital. According to the specific implementation plan, Liaoning Province will establish a new urban commercial bank and absorb and merge the two urban commercial banks. Subsequently, the CBRC agreed to prepare for the establishment of Liaoshen bank, which will be formed by the merger of two urban commercial banks. In September of the same year, Liaoshen bank was approved to absorb and merge Yingkou Coastal bank and Liaoyang bank.
On the eve of announcing the merger plan of urban commercial banks, Tan Zhen investigated Yingkou Coastal bank. On October 9, 2020, Tan Zhen spoke highly of Yingkou’s work in preventing and resolving financial risks, and said that he would strengthen supervision, guide financial institutions to further improve their ability and level of serving the real economy and contribute to local economic and social development.
