To solve the loan problem of small and micro enterprises and private enterprises, credit support and financial support are the most important points in the reform of financial supply side. Guo Shuqing said, On the banking side, insurance has done a lot. The total fund raised by insurance now is about 16 trillion yuan, which can be invested in private enterprises and small and micro enterprises. To improve investment methods, management methods, restructuring, securities, especially capital market, stock market, bond market, direct financing, we need to do more work. We need to rely on a stronger capital market, which can better support the development of innovative enterprises. In particular, we should develop multi-level capital markets, including large-scale ones. Exchanges, including regional equity markets, as well as private equity funds and venture capital funds, have proved to be a good investment channel in foreign countries. They can better support risks and innovative capabilities, but at the same time, they are more likely to fail. So our supply-side structural reform is multifaceted.
Guo Shuqing focused on innovation. I would like to emphasize bold innovation. Our banking, insurance and securities sectors need a lot of innovation. Without innovation, we can not do a good job in financial services. Especially to solve the worlds difficult problems, the financing of small and micro enterprises is difficult and expensive, which is a world problem. It should be said that by now, our country should have solved it fairly well.