A cabinet-level group called Leading Group for Comprehensive Reforms of State Banks has been established to help reform the state-run banking system. 
 
The group is made up of the People's Bank of China, Finance Ministry and the watchdog organization China Banking Regulatory Commission.

The China Banking Regulatory Commission will be responsible for pushing forward corporate governance in China's four state banks, while the other two agencies will focus on capital injection.

(CRI November 27, 2003)