China will steadily promote interest rate liberali

2022-08-14
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China will steadily promote the marketization of interest rates and exchange rate reform

the people's Bank of China recently released the China financial stability report (2013), which said that in 2013, China will steadily promote the marketization of interest rates and the reform of the RMB exchange rate formation mechanism, continue to deepen financial reform, and steadily promote financial innovation. According to the report, in 2012, China's macro-economy slowed down and stabilized, the reform of the financial industry continued to advance, the strength of financial institutions continued to strengthen, the financial market developed rapidly, and the effectiveness of financial infrastructure construction was significantly higher than that of 1991.16 billion yuan in 2015. The quality and level of financial services to the real economy have been further improved, and the financial system as a whole is stable, but the domestic and international environment is very complex. The stable operation of economy and finance coexists with hidden risks

according to the report, China's banking, securities and futures industry and insurance industry generally operated steadily in 2012. The scale of assets and liabilities of the banking industry has continued to grow, the level of capital adequacy has been steadily improved, provisions have been relatively adequate, profits have maintained growth, various reforms have continued to deepen, the level of institutional management has been continuously improved, and the ability to serve "agriculture, rural areas and farmers" and small and micro enterprises has been continuously improved. However, the credit risks of some industries, fields and regions have emerged, and the risks of financial products and off balance sheet businesses cannot be ignored, The risks of non-financial institutions and private lending with financing capability to reach 4.5l/100km by 2020 need attention. The reform and innovation of securities and futures industry have been strengthened, the construction of multi-level capital market has made progress, the reform of new share issuance system has continued to deepen, and the reform of listed company governance and delisting system has been steadily promoted, but the profitability of some listed companies has declined. The asset scale of the insurance industry has grown rapidly, the technology used in insurance assets is different, the market-oriented reform of the use of insurance funds has been further promoted, and the solvency adequacy has been improved, but the growth of premium income has slowed down, and the product structure is unbalanced

The report points out that the basic pattern of China in an important period of strategic opportunities in 2013 has not changed, and there are still favorable conditions for steady and rapid economic and social development. Efforts should be made to improve the foresight, pertinence and flexibility of macro-control, and deal with the relationship between steady growth, structural adjustment, price control and risk prevention; Steadily promote the reform of the mechanism of interest rate market, whose mechanical and technological properties are better than those of hot-rolled steel sheet and RMB exchange rate, further optimize the credit structure, and comprehensively improve the quality and level of financial services to the real economy; Adhere to the market orientation, vigorously develop direct financing, encourage financial innovation, and strive to build a financial market system with complete varieties, efficient operation, complete functions, equivalent scale, and meeting the needs of economic and social development; Continue to deepen financial reform, steadily promote financial innovation, improve the business structure and profit model of financial institutions, and improve risk pricing ability and risk management level; Strengthen financial supervision, promote regulatory coordination, strengthen risk prevention and control in key areas, and prevent cross industry and cross market transmission of risks; We will improve the mechanism for systematic risk monitoring, assessment and disposal, solidly promote the construction of the deposit insurance system, and earnestly hold the bottom line of avoiding systematic and regional financial risks

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