China Financial Standardization Technical Committee (CFSTC, SAC/TC 180) is a technical organization authorized by the Standardization Administration of the P. R. C. (SAC). CFSTC is a technical organization engaged in nationwide standardization in the financial sector, and is responsible for the centralized management of standardization technology in the financial industry and for domestic work related to ISO/TC 68 and ISO/TC 222. The Standardization Administration of the P. R. C. has entrusted The People’s Bank of Chinato lead and manage China Financial Standardization Technical Committee.There are three sub-committees affiliated to CFSTC covering securities, insurance and printing standardization respectively.
The first generation of CFSTC was established in 1991, composed of 33 experts. The second generation was founded in 2002 and was made up of 56 experts. The third generation was formed in May 2012 with 48 experts. The fourth generation of CFSTC was setted up in June 2017, including 59 experts who comes from the relevant departments and subordinate units of The)People's Bank of China (PBC), China Banking Regulatory Commission (CBRC), China Securities Regulatory Commission (CSRC) and China Insurance Regulatory Commission (CIRC), as well as financial institutions in the banking, security and insurance sectors. There are also experts from standardization research institutions. By the end of 2018, CFSTC had released 65 national standards and 247 industrial standards in the financial sector. The promulgation and implementation of financial standards facilitate financial technology and administration, promote financial development, and lay a solid foundation for the healthy development of financial industry, contributing to social and economic benefits.
As a standing unit of CFSTC, the Secretariat which is located in Science and Technology Division of PBC is in charge of daily operation, including organizing the development of industrial standard system, establishing working groups, organizing standards formulation and revision, conducting standards review, and promoting publicity and training programs.