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Chinese Government Officials Meet with State Regulator

News Release – Tuesday, November 15, 2016

CHICAGO – A delegation of government officials from Schenzhen, China recently met with leaders of the Illinois Department of Financial and Professional Regulation (IDFPR) in Chicago to learn more about the state’s regulatory and licensing function. At the meeting, IDFPR staff provided an overview of the professions regulated by IDFPR, followed by a discussion of Illinois’ eLicensure initiatives, supervision of financial professionals, as well as how technology continues to shape and redefine the regulatory industry. Schenzhen is one of the most densely populated cities in China with more than 18 million permanent residents.

“While Schenzhen is nearly 8,000 miles away, the regulatory challenges they face are remarkably similar,” said Bryan A. Schneider, IDFPR Secretary. “We appreciate the opportunity to have a fruitful discussion on how our two countries are approaching regulatory governance in the face of ever-changing business models and advancing technology.”

Silang Liu, Deputy Director of the Schenzen Market Supervision Administration, said: “The visit helped the delegation better understand state government operations and will provide insight into progressing governmental administrative reform.”

The non-profit organization, the 21st Century Institute, reached out to IDFPR to arrange the meeting. 21st Century promotes exchange programs between China and the U.S. in the areas of culture, education, human resources management, among others.

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