Legal analysis: the wage payment guarantee of migrant workers refers to the guarantee that the guarantor pays the wages of migrant workers to the owner or contractor. Once the owner or contractor breaches the contract and fails to pay the wages of migrant workers in full and on time, the guarantor will pay them on his behalf (and then the guarantor will recover from the owner or contractor) to protect the legitimate rights and interests of migrant workers. Wage guarantee for migrant workers is a guarantee law to prevent the payment of wages for migrant workers. It guarantees the normal payment of migrant workers' wages in the form of third-party guarantee, and gives priority to protecting workers' claims arising from employment when their employers go bankrupt, so that workers can get payment from the assets of bankrupt employers before non-priority creditors get their share. The contractor provides a guarantee through the company to ensure that the contractor pays the wages to the migrant workers on schedule and on time according to the requirements of the project unit. Can also provide guarantees according to the construction contracting enterprises. If the contractor fails to pay the wages of migrant workers on time, the guarantee company will pay the wages of migrant workers on his behalf.

Legal basis: Notice of the General Office of the State Council on Printing and Distributing the Provisions on the Internal Structure and Staffing of the Main Duties of China Banking Regulatory Commission.

Responsibilities assigned in Article 1

(1) The supervisory duties of the People's Bank of China on banking financial institutions.

(2) Relevant duties of the former Central Financial Work Committee.

Article 2 Main responsibilities

(1) Formulating rules, regulations and measures for the supervision of banking financial institutions; Draft relevant laws and administrative regulations, and put forward suggestions for formulation and revision.

(2) Examining and approving the establishment, alteration, termination and business scope of banking financial institutions and their branches.

(3) Conduct on-site and off-site supervision of banking financial institutions, and investigate and deal with illegal acts according to law.

(4) Examining the qualifications of senior managers of banking financial institutions.

(five) responsible for the unified preparation of national banking financial institutions data and statements, copied to the People's Bank of China, and published in accordance with the relevant provisions of the state.

(six) in conjunction with the Ministry of Finance, the people's Bank and other departments to put forward opinions and suggestions on the emergency risk disposal of deposit-taking financial institutions.

(seven) responsible for the daily management of the board of supervisors of state-owned key banking financial institutions.

(eight) to undertake other tasks assigned by the State Council.