Our reporter Xu Beibei reported that in order to strengthen the statistical management of banking and insurance industry supervision, standardize regulatory statistical behavior, and improve the quality and efficiency of regulatory statistics, the China Banking and Insurance Regulatory Commission has recently released the "Measures for the Management of Banking and Insurance Regulatory Statistics" (hereinafter referred to as the "Measures").

The Measures include six chapters, including General Provisions, Regulatory Statistical Management Institutions, Regulatory Statistical Investigation Management, Regulatory Statistical Management of Banking and Insurance Institutions, Regulatory Statistical Supervision Management, and Supplementary Provisions, totaling 33 articles, with a focus on standardizing the following contents:

One is to clarify the requirements for centralized management. The "Measures" clarify the requirements for the centralized management of regulatory statistical work, define the responsibilities of the centralized management departments of regulatory statistical management institutions, clarify the responsibilities of the centralized management departments of banking and insurance institutions, and list the boundaries of responsibilities of each relevant entity.

The second is to clarify the responsibility for data quality. In order to urge banking and insurance institutions to attach importance to data quality, the "Measures" clearly state that the legal representative or main person in charge of banking and insurance institutions shall bear the ultimate responsibility for the quality of regulatory statistical data.

The third is to emphasize data security protection. According to the relevant provisions of the Data Security Law of the People's Republic of China implemented in September 2021, the Measures have added regulatory content related to data security protection in the scope of responsibilities, statistical data management system, and supervision and inspection, and clearly put forward confidentiality requirements for regulatory statistical work.

The fourth is to meet the requirements of data governance. Fully absorbing the regulatory requirements of the China Banking and Insurance Regulatory Commission on data governance of banking and insurance institutions in recent years, the "Measures" clearly require banking and insurance institutions to include their own regulatory statistical work in the scope of data governance.

Fifth, attach importance to the realization of data value. In order to guide banking and insurance institutions to continuously improve their data analysis capabilities and fully tap into the value of regulatory statistical data, the "Measures" clearly propose requirements for the application of regulatory statistical data analysis, guide banking and insurance institutions to fully utilize data analysis methods, carry out data analysis and mining applications, and fully tap into the value of regulatory statistical data.

The release and implementation of the "Measures" have unified the regulatory and statistical system for the banking and insurance industry, providing institutional support for solving practical problems in current regulatory and statistical work, further consolidating the foundation of statistical work, and providing guidance for the regulatory and statistical work of the banking and insurance industry.