CBRC: further implementing the financial rescue policy

category:Finance
 CBRC: further implementing the financial rescue policy


Novel coronavirus pneumonia has been facing severe challenges and complicated environment both at home and abroad this year. The CIRC has resolutely won the epidemic prevention and control of the peoples war, fully supports the economic and social development, deepens the reform and opening up in the financial sector, and firmly keeps the bottom line of systemic financial risks.

The meeting pointed out that it is necessary to closely follow the requirements of six stability and six guarantees, better combine stabilizing enterprises to ensure employment and serving private, small and micro enterprises, spare no effort to promote the recovery of normal economic and social circulation, and unswervingly promote high-quality economic development. We will further implement various financial rescue policies, focus on enterprises that are temporarily in trouble but still have prospects, effectively prevent moral hazard and prevent zombie enterprises from hitchhiking. In order to reduce the financing cost of enterprises, the financial system should make reasonable profits of 1.5 trillion yuan to all kinds of enterprises throughout the year. We will substantially increase medium and long-term financial support for advanced manufacturing and strategic emerging industries, accurately support the national major regional development strategy and the construction of two new and one heavy projects, and help win the battle of poverty alleviation and pollution prevention.

The meeting required that the bottom line of no systemic financial risk should be firmly maintained. We should plan ahead of time to deal with the substantial increase of non-performing assets in the banking industry, strictly classify the quality of assets according to the principle that substance is more important than form, make real profits, make adequate provisions, supplement capital, and enhance the ability to resist risks. We will resolutely prevent the resurgence of shadow banking, the resurgence of chaos in real estate loans, and the return of blind expansion and extensive operation. To ensure that the special rectification of online loan risks is completed on schedule and the risks are cleared. We will handle illegal financial groups and major risk events in accordance with laws and regulations, further improve the transparency of regulatory work, give full play to the role of public supervision, enrich the mandatory measures of prudential supervision, increase the intensity of punishment, and improve the efficiency of punishment. We should further strengthen the bottom line thinking, do our own things well based on China, strive for strategic initiative, and be fully prepared for long-term response to changes in the external environment.

The meeting stressed that it is necessary to continuously improve the corporate governance of Bancassurance institutions and integrate the partys leadership into all aspects of corporate governance from the institutional and organizational aspects. We should strictly standardize the management of shareholders equity, strengthen the qualification examination of shareholders, implement the commitment system for shareholders to participate in shares, and resolutely prohibit illegal shareholders from entering the industry. We should strengthen the supervision of the two sessions and one layer performance, urge and improve the professional independence of directors, strengthen the independent exercise of supervision duties by the board of supervisors in accordance with the law, and strengthen the code of conduct for the senior management to perform their duties. We will further standardize the scope and content of information disclosure, establish a normalization mechanism for disclosure of major illegal shareholders, and strengthen external supervision and market constraints. We should seize the opportunity, take the initiative, compact the responsibilities of all parties concerned, broaden the sources of risk disposal and capital replenishment, and accelerate the reform of small and medium-sized banks. We should steadily promote the reform of rural credit cooperatives, adopt measures according to local conditions and implement policies according to different categories, and maintain the integrity of local financial organization system, especially to maintain the overall stability of the legal status of rural credit cooperatives or rural commercial banks at county level. We should further optimize the insurance supervision mechanism, speed up the reform of the use of insurance funds, strengthen the role of insurance in the disaster protection system, accelerate the development of catastrophe insurance, and promote the construction of the third pillar of endowment insurance. Source of this article: Yang Qian, editor in charge of Securities Daily_ NF4425

The meeting stressed that it is necessary to continuously improve the corporate governance of Bancassurance institutions and integrate the partys leadership into all aspects of corporate governance from the institutional and organizational aspects. We should strictly standardize the management of shareholders equity, strengthen the qualification examination of shareholders, implement the commitment system for shareholders to participate in shares, and resolutely prohibit illegal shareholders from entering the industry. We should strengthen the supervision of the two sessions and one layer performance, urge and improve the professional independence of directors, strengthen the independent exercise of supervision duties by the board of supervisors in accordance with the law, and strengthen the code of conduct for the senior management to perform their duties. We will further standardize the scope and content of information disclosure, establish a normalization mechanism for disclosure of major illegal shareholders, and strengthen external supervision and market constraints. We should seize the opportunity, take the initiative, compact the responsibilities of all parties concerned, broaden the sources of risk disposal and capital replenishment, and accelerate the reform of small and medium-sized banks. We should steadily promote the reform of rural credit cooperatives, adopt measures according to local conditions and implement policies according to different categories, and maintain the integrity of local financial organization system, especially to maintain the overall stability of the legal status of rural credit cooperatives or rural commercial banks at county level. We should further optimize the insurance supervision mechanism, speed up the reform of the use of insurance funds, strengthen the role of insurance in the disaster protection system, accelerate the development of catastrophe insurance, and promote the construction of the third pillar of endowment insurance.