- 2024-08-17
- News
Three Key Focuses to Boost Financial Supply
Guide financial institutions to continuously increase financial supply, continuously optimize resource allocation, and accelerate the smooth flow of funds, fully supporting the economic recovery and improvement.
It is essential to focus closely on achieving the annual economic and social development goals and tasks, taking action as a priority and acting decisively. We should guide financial institutions to continuously increase financial supply, continuously optimize resource allocation, and accelerate the smooth flow of funds, fully supporting the economic recovery and improvement.
It is worth noting that Li Yunze emphasized in his speech that opening up to the outside world is a distinct feature of Chinese-style modernization and an important driving force for the reform and development of the financial industry. According to him, the Financial Regulatory Authority has officially approved the establishment of a property insurance company in Beijing by the French Paris Insurance Group in conjunction with the German Volkswagen Financial Services Overseas Company, and the establishment of an insurance asset management company in Beijing by the American Prudential Insurance Company. Next, the Financial Regulatory Authority will continue to support Beijing in expanding the opening up of the financial industry, contributing more financial strength to the high-quality economic and social development of the capital.
Advertisement
In terms of specific measures, Li Yunze said that first, we should focus on optimizing the credit management model and effectively enhance the ability to serve the real economy. Since the beginning of this year, the Financial Regulatory Authority, together with the housing and development departments, has successively established a coordination mechanism for urban real estate financing and a coordination working mechanism to support small and micro enterprise financing. This is done by strengthening the linkage between central and local governments and departmental collaboration, starting from both the supply and demand sides to unblock credit distribution bottlenecks and coordinate the solution of enterprises' financing difficulties and banks' lending difficulties. Under the national condition where indirect financing is the mainstay, how to better play the main force role of banks is the key to achieving "good lending," "willing lending," and "daring lending."
Secondly, we need to focus on key areas and weak links, and increase financial support. Optimize the supply of financial resources and promote the expansion of effective demand. Strengthen the supporting fund support for ultra-long-term national bonds and special bonds, and enhance the financing security of 102 major projects in the "14th Five-Year Plan." Efficiently serve "two important" and "two new." Help implement consumer stimulation actions, enrich consumer financial products, actively promote service consumption, and vigorously cultivate new types of consumption. Do a good job in foreign trade financial services, promote the stability and quality improvement of foreign trade. Fight a tough battle to ensure the delivery of houses, and promote the real estate market to stop falling and stabilize. Accelerate the expansion and effectiveness of the urban real estate financing coordination mechanism, and truly achieve "should enter as much as possible," "should lend as much as possible," and "can be as early as possible."
At the same time, promote banks to make good use of policy and commercial financial tools to revitalize idle land and digest commercial housing inventory. Increase the cultivation of patient capital to promote the development of new quality productive forces. Encourage financial asset investment companies to play a greater role in supporting scientific and technological innovation. The signed intention fund scale of the new batch of 18 pilot cities has exceeded 250 billion yuan.
Support qualified insurance institutions to establish new private securities investment funds and increase the stability of the market. Effectively meet the financing needs of enterprises and promote the development of small and micro enterprises. Adhere to the "two unswervings," treat private and small and micro enterprises equally, and increase support. According to the goal of "directly to the grassroots, fast and convenient, and appropriate interest rates," promote the small and micro enterprise financing coordination working mechanism to take effect as soon as possible. Accelerate the implementation of the no-principal续贷 policy for small and medium-sized enterprises, expand the coverage, reduce the "bridge" cost, and truly improve the sense of gain for enterprises.
Thirdly, we need to coordinate development and security, and actively create a good financial environment. At present, risks in key areas are converging in a steady and orderly manner, the banking and insurance industries are operating steadily, and risks are generally controllable. The Financial Regulatory Authority will insist on resolving risks in development, ensuring high-level security for high-quality development. Consolidate the foundation for sustainable development. Expand capital replenishment channels, support large banks to accelerate the replenishment of core tier-one capital, and expand credit growth space.
Guide various banks and insurance institutions to improve their positioning and governance, strengthen internal control and risk management, and enhance risk resistance. Strengthen supporting policy guarantees. Deepen credit information sharing, promote efficient docking between banks, governments, and enterprises, improve risk sharing and compensation mechanisms, crack down on illegal intermediaries, and focus on optimizing the financial service ecosystem. Insist on precise and standardized law enforcement. Focus on "key people," "key matters," and "key behaviors," prevent substantive risks, solve practical problems, control regulatory boundaries, and achieve the unity of policy effects, legal effects, and social effects.Promote the reform and risk resolution of small and medium-sized financial institutions in an orderly manner, grasping the timing, intensity, and effectiveness, and resolutely prevent the spillover of risks. Strengthen interest rate transmission and asset-liability management to effectively respond to the risks of narrowing net interest margins and interest spread losses. Guide banking institutions to cooperate in the extension, restructuring, and replacement of hidden debts, and actively support the resolution of local government debt risks.
- 40 Comments
- 198
- 105