The CBIRC was established in April 2018 as part of the
deepening the reform of the Party and state institutions by a merger of China's banking and insurance regulators, namely, the
China Banking Regulatory Commission (CBRC) and
China Insurance Regulatory Commission (CIRC). It supervised and managed
China's banking and insurance sectors, participated in the drafting of legislation and regulation relevant to those sectors, performed supervisory and management functions in those sectors, and conducting studies on the management of those sectors. As a result of these functions, it was also involved in regulating
fintech and
data security and privacy issues. ==See also==