Third, connect with the capital market and support the listed companies in multi-channel financing. For listed companies, in addition to capital market financing, banks should also provide a variety of financing methods to support the development of enterprises. On the one hand, for the listed companies with outstanding main business, standardized operation and good prospects, banks can provide credit support and broaden financing channels through comprehensive credit and other ways. On the other hand, for the listed companies that are affected by the epidemic and have temporary difficulties, banks can reasonably use market-oriented and legal means, such as debt to equity swap, rescue funds, M & A and restructuring, to help them get through the difficulties. In addition, banks should prevent and resolve the liquidity risk of stock pledge of listed companies, and stabilize investment sentiment and confidence.
Fourth, the financial management subsidiary was approved and accelerated, and the transition period was appropriately extended. The establishment and specialized operation of financial subsidiaries are of great significance to the maintenance and appreciation of investors assets and the prevention and resolution of financial risks. For the follow-up work, the CBRC revealed two aspects of deployment. On the one hand, the number of financial subsidiaries expanded and accelerated. At present, the CBRC has approved 16 banks to set up financial subsidiaries. In the future, financial subsidiaries will give priority to supporting Chinese banks with strong risk management and control ability, total assets and non breakeven financial business reaching a certain scale, as well as qualified foreign institutions, which means that the specialization and net worth of the asset management industry are expected to be accelerated. On the other hand, the transition period of stock asset management business rectification is appropriately extended. According to the requirements of the new regulations on asset management, the rectification of stock asset management business should be completed by the end of 2020. However, due to the impact of such emergencies as pneumonia, the CIRC proposed that if it is really difficult to complete the disposal by the end of 2020, it is allowed to extend the transition period appropriately, which can be regarded as a special arrangement for a special period, which helps to reduce the pressure and risk of banks and concentrate at the current stage Efforts to provide more support for epidemic prevention and control.
On the whole, the foundation for Chinas long-term sound and high-quality economic development has not changed. The impact of the pneumonia epidemic on the economy is short-term and temporary. We are confident and able to cope with the impact of the epidemic, give full play to the role of the main body of the financial system of banks and insurance institutions, and ensure the smooth operation of the financial market.