BEIJING, Dec. 5 (Reporter Li Jinlei) Recently, Pan Gongsheng, Party Secretary and President of the People’s Bank of China, Li Yunze, Party Secretary and Director of the State Financial Supervision and Administration, and Yi Huiman, Party Secretary and Chairman of the China Securities Regulatory Commission, were interviewed by the media, publicly speaking, responding to hot issues in financial work and releasing important signals.
On serving the real economy
Promote the financing cost of the real economy to decrease steadily.
Serving the real economy is the bounden duty and fundamental purpose of finance. The Central Financial Work Conference clearly requires that "finance should provide high-quality services for economic and social development".
How to serve the real economy?
Pan Gongsheng said: First, pay more attention to cross-cyclical and counter-cyclical adjustment, and maintain a reasonable growth in the total amount of money and credit and the scale of social financing. Second, strengthen coordination and cooperation with fiscal and regulatory policies, and continuously increase support for major strategies, key areas and weak links. The third is to reasonably grasp the interest rate level and promote the steady decline of financing costs in the real economy. The fourth is to coordinate the internal and external balance and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.
Yi Huiman said that the capital market is not large in the whole financial market, but it has unique advantages in serving the real economy. In the next step, we will adhere to the problem orientation, be honest and innovative, and launch more pragmatic measures around improving the function of the capital market. First, promote the stock issuance registration system to go deep and practical. Second, improve the multi-level capital market system. Third, vigorously improve the quality of listed companies. Fourth, promote the high-level institutional opening of the capital market.
On financial supervision
Resolutely achieve "long teeth with thorns"
The Central Financial Work Conference requires that financial supervision should be comprehensively strengthened to effectively prevent and resolve financial risks. Effectively improve the effectiveness of financial supervision, bring all financial activities under supervision according to law, comprehensively strengthen institutional supervision, behavioral supervision, functional supervision, penetrating supervision and continuous supervision, eliminate regulatory gaps and blind spots, strictly enforce the law, dare to show their swords, and severely crack down on illegal financial activities.
How to effectively improve the effectiveness of financial supervision?
Li Yunze said that in the next step, we will focus on strong supervision and strict supervision, resolutely achieve "long teeth with thorns" and continuously improve the forward-looking, accurate, effective and synergistic supervision. First, comprehensively strengthen the "five major supervision". The second is to strictly enforce the law and dare to show the sword. The third is to strengthen supervision and protection.
He pointed out that the chaos in the financial market should be thoroughly rectified, so as to adhere to principles, dare to face difficulties, treat people equally, and be fair and just. Focus on the "key things" that affect financial stability, "key people" that cause major financial risks, and "key behaviors" that undermine market order, and really hit the board accurately and hurt.
Yi Huiman said that in the next step, we will focus on improving the adaptability and pertinence of supervision and create a more favorable environment for the reform and development of the capital market. First, make every effort to maintain the stable operation of the capital market. The second is to implement the main responsibility of supervision. The third is to resolutely eliminate the regulatory vacuum. The fourth is to strengthen supervision capacity building.
Lian Ping, chairman of China Chief Economist Forum and vice president of Shanghai Economic Association, believes that in the next few years, comprehensively strengthening financial supervision will become the top priority of China’s financial work, which will help accelerate the construction of a modern financial system with China characteristics and provide a healthy and stable financial environment for the high-quality development of China’s economy.
Dong Ximiao, the chief researcher of Zhaolian and a part-time researcher at the Institute of Finance of Fudan University, believes that this will help reduce the regulatory gap, bring all financial activities into supervision, and ensure that financial supervision has no dead ends, no blind spots and no exceptions.
On preventing and resolving financial risks
Accelerate the reform of small and medium-sized financial institutions.
The central financial work conference pointed out that "there are still many hidden dangers in economic and financial risks" and demanded that "the risks of small and medium-sized financial institutions should be handled in time".
Pan Gongsheng pointed out that the People’s Bank of China will cooperate with relevant departments and a few provinces where high-risk institutions are relatively concentrated to formulate and implement the reform plan for small and medium-sized banks, further reduce the number and risk level of high-risk institutions, handle financial risks according to the principles of marketization and rule of law, and protect the interests of the largest number of depositors, small and medium-sized investors and the insured according to law.
Li Yunze said that in the next step, we will adhere to goal orientation and problem orientation, resolutely fight tough battles and protracted wars, with the focus on accelerating the reform of small and medium-sized financial institutions. First, adhere to a safe and orderly manner. The second is the precise policy of classification. The third is to deepen both the symptoms and the root causes.
Dong Ximiao analyzed that both Pan Gongsheng and Li Yunze mentioned the reform and risk reduction of small and medium-sized financial institutions. Under the complicated internal and external environment, the central financial work conference should be held as an opportunity to further promote and deepen the reform and risk reduction of small and medium-sized banks, and at the same time build high-quality small and medium-sized banks into "specialized and innovative" banks. (End)
