China Banking and Insurance Regulatory Commission: Crack down on disorderly competition, harshly crack down on financial illegal activities

On June 17, Ding Xiangqun, the Director of the China Banking and Insurance Regulatory Commission, stated at the 2026 Lujiazui Forum that the Commission focuses on both regulations and governance, strictly enforces market discipline, cracks down on disorderly competition, harshly punishes illegal financial activities, firmly implements the integration of insurance and banking operations, effectively maintains financial market order, urges financial institutions to establish correct operational, performance, and risk perspectives, improve governance mechanisms, strengthen incentive constraints, and shift from pursuing speed and scale to focusing on quality and efficiency.