State-owned commercial banks and joint-stock commercial banks applying for stock pledge loans shall be accepted, examined and decided by the CBRC. City commercial banks applying for this business shall be accepted and preliminarily examined by the local banking regulatory bureau, and reviewed and decided by the CBRC. The CBRC shall make a written decision on approval or disapproval within 3 months from the date of receiving the complete application materials.

In fact, the function of the CBRC is mainly to supervise banks, and the CBRC naturally has the right to supervise the equity pledge involving the change of bank equity. At the same time, the CBRC is also of great help to the reform to improve the core competitiveness of banks.