Based in Beijing, it was authorized on 24 August 2007 by the Ministry of Civil Affairs, and thus counts as China's first-ever SRO.
[2]: 11 NAFMII's members include banks, insurers, securities firms, asset managers, credit rating agencies, accounting firms, as well as some non-financial corporations or their financial services arms.
[3] Its inaugural meeting was held on 3 September 2007 in the Great Hall of the People, in the presence of PBC Governor Zhou Xiaochuan together with representatives of the China Banking Regulatory Commission (CBRC), China Insurance Regulatory Commission (CIRC), and China Securities Regulatory Commission (CSRC).
[1] NAFMII is the relevant authority for issuance of debt securities by non-financial corporations on the Interbank Bond Market.
[2]: 160 In 2022, NAFMII was also acknowledged by the Financial Stability Board as a trade repository for credit derivatives, together with CFETS.