The new trend of financial development from the meeting of the Political Bureau of the central government

category:Society
 The new trend of financial development from the meeting of the Political Bureau of the central government


Trend 1: preventing and resolving major risks is still the top priority of the financial sector. This means that risk prevention is still the top priority of financial work. Wen Bin, the chief researcher of the peoples livelihood bank, said. Previously, the first meeting of the Central Committee of the financial and Economic Committee, held in the early April, made clear that the prevention and resolution of financial risks related to the national security, the development of the overall situation and the safety of the peoples property. It is a major crossing for the realization of high quality development. In terms of monetary policy, the meeting made it clear that monetary policy should be stable and neutral. Wen Bin believes that future monetary policy will remain neutral, more flexible, or will use differential and structured tools to encourage financial institutions to further increase support for the three rural, double wound, small and micro enterprises and other fields, and to better support the development of the real economy. The meeting called for more proactive reform and opening up, deepening the reform of state-owned assets, finance and taxation, and implementing the major open measures as soon as possible. At the opening ceremony of the 2018 annual meeting of the Boao Asian forum held in April 10th, President Xi Jinping made clear that at the end of last year, it was announced that the major measures to relax banks, securities and insurance industries to reduce the restrictions were to ensure the landing. At the same time, we should strengthen the opening up, accelerate the opening process of the insurance industry and relax the foreign financial institutions. Set up restrictions, expand the scope of foreign financial institutions business in China, and broaden the scope of cooperation in financial markets between China and foreign countries. The following day, the financial departments of the peoples Bank of China, China Securities Regulatory Commission and the State Administration of foreign exchange moved swiftly to announce the specific measures for opening up. Chinas financial industry has opened a new chapter in opening up. The road map of Chinas financial opening to the outside world is clear, and the following open measures are expected to fall in succession. The increase in openness will inevitably promote the reform of the financial industry itself and promote the development of the financial industry. Ceng Gang, director of the Research Institute of finance, Chinese Academy of Social Sciences, said. Since this year, the reform measures in the financial field have been linked together. The Ministry of Finance and other five departments jointly opened the pilot of personal tax deferred commercial pension insurance. China Securities Regulatory Commission issued a policy to support the domestic listing of innovative enterprises, and the former China Banking Regulatory Commission issued a temporary method for the management of shares in commercial banks... In the future, Chinas financial sector reform is expected to go further. It has just been thought that in the process of reform and opening to the outside world, it should be promoted in an orderly way according to the running situation of the real economy and the acceptance of related financial risks, including the promotion of the marketization of deposit interest rate. Trend three: eliminate hidden dangers in time to promote healthy development of financial market The meeting put forward that we should promote healthy development of credit, stock market, bond market, foreign exchange market and property market, and follow up supervision in time to eliminate hidden dangers. Shi Jianxun, director of the Institute of Finance and economics, Tongji University, believes that the Central Committee is highly concerned about the healthy development of credit and capital markets, aiming at some of the contradictions and problems facing the current economy. Credit is the most direct source of blood supply to the real economy. The conference emphasizes the healthy development of the credit market and releases the signal that the economic blood loss will be caused by the full consideration of the real economic needs and without the significant de leveraging of credit. Shi Jianxun said that on this basis, the healthy development of stock market, debt market and foreign exchange market can prevent the resonance effect in the process of strengthening supervision. The healthy development of markets such as credit and stock market plays an important role in ensuring the smooth operation of macro-economy. Zeng said that the risk stocks in these markets need to be reduced. As far as credit is concerned, although the pressure of credit risk and non-performing loan is weakening, the stock of risk is relatively large and needs to be digested for some time, especially the risk of enterprise level which is easily caused by the tense situation of capital. It is worth noting that capital market performance is weak in recent years. Yang Delong, the chief economist of the Qianhai open source fund, and other industry insiders believe that, under the background of increasing external pressure, the central government has emphasized the healthy development of the capital market and the foreign exchange market, which will help to better boost market confidence.