central financial work conference held in beijing

Xi Jinping, Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding, Xue Xiang and Li Xi attended

Source: People's Network-People's Daily Release Date: 2023-11-01

From October 30 to 31, the Central Financial Work Conference was held in Beijing. Xi Jinping, general secretary of the CPC Central Committee, president and chairman of the Central Military Commission, attended the meeting and delivered an important speech.
Photo by Xinhua News Agency reporter Ju Peng

　■Finance is the blood of the national economy and an important part of the country's core competitiveness. It is necessary to accelerate the construction of a financial power, comprehensively strengthen financial supervision, improve the financial system, optimize financial services, prevent and resolve risks, and unswervingly follow the development of financial development with Chinese characteristics. Road, promote the high-quality development of my country's finance, and provide strong support for the comprehensive promotion of a powerful country and national rejuvenation with Chinese-style modernization

Since the 18th CPC National Congress, under the centralized and unified leadership of the CPC Central Committee, the financial system has strongly supported the overall situation of economic and social development, resolutely fought a tough battle to prevent and resolve major risks, and made important contributions to building a moderately prosperous society in an all-round way as scheduled and achieving the first centenary goal. The Party Central Committee combines Marxist financial theory with the specific reality of contemporary China and with the excellent traditional Chinese culture, strives to grasp the law of financial development in the new era, continues to promote the practical innovation, theoretical innovation and institutional innovation of China's financial industry, and strives to open up the road of financial development with Chinese characteristics, It is emphasized that we must adhere to the centralized and unified leadership of the Party Central Committee over financial work, Adhere to the people-centered value orientation, adhere to the real economy of financial services as the fundamental purpose, adhere to the prevention and control of risks as the eternal theme of financial work, adhere to the track of market-oriented rule of law to promote financial innovation and development, adhere to the deepening of financial supply-side structural reform, adhere to the overall financial openness and security, adhere to the general tone of steady progress. These practical and theoretical results are not easy to come.

■ At present and for some time to come, to do a good job in financial work, we must adhere to and strengthen the overall leadership of the party, take Xi Jinping's thought of socialism with Chinese characteristics in the new era as the guidance, fully implement the spirit of the 20th CPC National Congress, completely, accurately and comprehensively implement the new development concept, profoundly grasp the political and people-oriented nature of financial work, and speed up the construction of a financial power. To promote high-quality financial development as the theme, with deepening the structural reform of the financial supply side as the main line, taking the purity, professionalism and combat effectiveness of the financial team as the important support, focusing on comprehensively strengthening supervision and preventing and resolving risks, adhering to the general keynote of seeking progress while maintaining stability, coordinating development and security, firmly holding the bottom line of no systemic financial risks, unswervingly following the road of financial development with Chinese characteristics, Accelerate the construction of a modern financial system with Chinese characteristics, continuously meet the economic and social development and the growing financial needs of the people, and constantly open up a new situation in financial work in the new era

 

Our newspaper, Beijing, October 31. The Central Financial Work Conference was held in Beijing from October 30 to 31. Xi Jinping, general secretary of the CPC Central Committee, president and chairman of the Central Military Commission, attended the meeting and delivered an important speech. Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang and Li Xi, members of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting.

In his important speech, Xi Jinping summarized the financial work since the 18th CPC National Congress, analyzed the situation facing high-quality financial development, and deployed financial work for the current and future periods. Li Qiang made specific arrangements for doing a good job in financial work.

The meeting emphasized that finance is the blood of the national economy and an important part of the country's core competitiveness. It is necessary to accelerate the construction of a financial power, comprehensively strengthen financial supervision, improve the financial system, optimize financial services, prevent and resolve risks, and unswervingly follow Chinese characteristics. The road of financial development promotes the high-quality development of my country's finance and provides strong support for the comprehensive promotion of a powerful country and national rejuvenation with Chinese-style modernization.

The meeting pointed out that since the 18th National Congress of the Communist Party of China, under the centralized and unified leadership of the Party Central Committee, the financial system has strongly supported the overall situation of economic and social development, resolutely fought the battle of preventing and resolving major risks, and made important contributions to building a moderately prosperous society in an all-round way as scheduled and realizing the first centenary goal. The Party Central Committee combines Marxist financial theory with the specific reality of contemporary China and with the excellent traditional Chinese culture, strives to grasp the law of financial development in the new era, continues to promote the practical innovation, theoretical innovation and institutional innovation of China's financial industry, and strives to open up the road of financial development with Chinese characteristics, It is emphasized that we must adhere to the centralized and unified leadership of the Party Central Committee over financial work, Adhere to the people-centered value orientation, adhere to the real economy of financial services as the fundamental purpose, adhere to the prevention and control of risks as the eternal theme of financial work, adhere to the track of market-oriented rule of law to promote financial innovation and development, adhere to the deepening of financial supply-side structural reform, adhere to the overall financial openness and security, adhere to the general tone of steady progress. These practical and theoretical results are not easy to come. At the same time, we should be soberly aware that various contradictions and problems in the financial field are intertwined and affect each other, some of which are still very prominent, there are still many hidden dangers in economic and financial risks, the quality and efficiency of financial services to the real economy is not high, financial chaos and corruption are repeatedly prohibited, and financial supervision and governance capacity is weak. The financial system should effectively improve its political position, have a "big country" in mind, strengthen its mission, resolve to fundamentally solve these problems, and use high-quality financial development to help build a strong country and rejuvenate the nation.

The meeting emphasized that at present and in the future, to do a good job in financial work, we must adhere to and strengthen the overall leadership of the party, guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the Party's 20th National Congress, complete, accurate and comprehensive implementation of the new Development concept, deeply grasp the political and popular nature of financial work, with the goal of accelerating the construction of a financial power, and the theme of promoting high-quality financial development, with deepening the structural reform of the financial supply side as the main line, taking the purity, professionalism and combat effectiveness of the financial team as the important support, focusing on comprehensively strengthening supervision and preventing and resolving risks, adhering to the general keynote of seeking progress while maintaining stability, coordinating development and security, firmly holding the bottom line of no systemic financial risks, unswervingly following the road of financial development with Chinese characteristics, Accelerate the construction of a modern financial system with Chinese characteristics, we will continue to meet the growing financial needs of economic and social development and the people, and constantly open up a new situation in financial work in the new era.

The meeting pointed out that high-quality development is the primary task of building a modern socialist country in an all-round way, and finance should provide high-quality services for economic and social development. Efforts should be made to create a good monetary and financial environment and effectively strengthen quality financial services for major strategies, key areas and weak links. Always maintain the soundness of monetary policy, pay more attention to cross-cyclical and counter-cyclical adjustment, and enrich the monetary policy toolbox. Optimize the capital supply structure, use more financial resources to promote technological innovation, advanced manufacturing, green development and small, medium and micro enterprises, vigorously support the implementation of innovation-driven development strategies, regional coordinated development strategies, and ensure national food and energy security. Invigorate the inefficient use of financial resources, improve the efficiency of the use of funds. Do a good job in science and technology finance, green finance, inclusive finance, pension finance, digital finance five major articles. Efforts should be made to build a modern financial institution and market system to unblock the channels for funds to enter the real economy. Optimize the financing structure, give better play to the hub function of the capital market, promote the registration system for stock issuance, develop diversified equity financing, vigorously improve the quality of listed companies, and cultivate first-class investment banks and investment institutions. Promote high-quality development of the bond market. We should improve the positioning of institutions, support large state-owned financial institutions to be better and stronger, be the main force in serving the real economy and the ballast stone for maintaining financial stability, strictly enforce the access standards and regulatory requirements of small and medium-sized financial institutions, carry out characteristic operation based on the local area, strengthen the functional orientation of policy financial institutions, and give full play to the economic shock absorber and social stabilizer functions of the insurance industry. Strengthen market rules, create financial markets with unified rules and coordinated supervision, and promote long-term capital formation. We will improve corporate governance, improve the modern financial enterprise system with Chinese characteristics, improve the management of state-owned financial capital, broaden the channels for replenishing bank capital, and do a good job of isolating production and financing risks. Efforts should be made to promote high-level financial openness and ensure national financial and economic security. We will attach equal importance to "bringing in" and "going out", steadily expand the institutional opening up of the financial sector, enhance the facilitation of cross-border investment and financing, and attract more foreign financial institutions and long-term capital to China for business development. Enhance the competitiveness and influence of Shanghai as an international financial center, and consolidate and enhance Hong Kong's status as an international financial center.

The meeting stressed the need to comprehensively strengthen financial supervision and effectively prevent and resolve financial risks. Effectively improve the effectiveness of financial supervision, incorporate all financial activities into supervision in accordance with the law, comprehensively strengthen institutional supervision, behavioral supervision, functional supervision, penetrating supervision, and continuous supervision, eliminate regulatory gaps and blind spots, strictly enforce the law, dare to show the sword, and severely crack down on illegal financial activities. Timely disposal of the risks of small and medium-sized financial institutions. Establish a long-term mechanism to prevent and resolve local debt risks, establish a government debt management mechanism that is compatible with high-quality development, and optimize the debt structure of central and local governments. Promote a virtuous circle between finance and real estate, improve the main body supervision system and capital supervision of real estate enterprises, improve the macro-prudential management of real estate finance, meet the reasonable financing needs of real estate enterprises of different ownerships without discrimination, make good use of the policy toolbox according to urban policies, better support rigid and improved housing demand, speed up the construction of "three major projects" such as indemnificatory housing, and build a new model of real estate development. Maintain the sound operation of the financial market, regulate the issuance and trading behavior of the financial market, reasonably guide expectations, and prevent the cross-regional, cross-market and cross-border transmission of risks. Strengthen the management of the foreign exchange market and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. To prevent and defuse financial risks, we must grasp the relationship between power and responsibility, and improve the risk handling responsibility mechanism with consistent power and responsibility, and compatible incentives and constraints; grasp the relationship between fast and stable, grasp the time and efficiency under the premise of stabilizing the overall situation, and resolve risks in a solid and stable manner, Resolutely punish illegal crimes and corruption, and strictly prevent moral hazards; early identification, early warning, early exposure, and early disposal of risks, improve the early correction mechanism of financial risks with hard constraints.

The meeting pointed out that strengthening the centralized and unified leadership of the Party Central Committee over financial work is the fundamental guarantee for doing a good job in financial work. It is necessary to improve the system and mechanism for the party to lead financial work, give full play to the role of the Central Financial Commission, and do a good job in overall planning and coordination. Give full play to the role of the Central Financial Work Committee and earnestly strengthen the party building of the financial system. Give full play to the role of the financial committee and financial work committee of the local party committee to implement territorial responsibility. We must adhere to the standards of strong politics, strong ability, and strong style, and forge a loyal, clean and responsible team of high-quality professional financial cadres. It is necessary to vigorously promote the excellent traditional Chinese culture in the financial system, adhere to honesty and trustworthiness, profit from justice, prudence, integrity and innovation, and compliance with laws and regulations. It is necessary to strengthen the construction of the financial rule of law, promote legislation in key and emerging financial areas in a timely manner, and escort the development of the financial industry.

The meeting emphasized that the important speech of General Secretary Xi Jinping scientifically answered a series of major theoretical and practical issues in the development of the financial industry. It is an important part of Xi Jinping's economic thinking and an important innovative achievement of Marxist political economy on financial issues. The new journey provides a fundamental follow and action guide to promote the high-quality development of finance in the new era. All regions and departments should thoroughly study and understand, consciously implement. It is necessary to improve financial macro-control, accurately grasp the laws and new characteristics of money and credit supply and demand, and strengthen the dual adjustment of the total amount and structure of money supply. Strengthen high-quality financial services, expand high-level financial openness, serve the "going out" and "Belt and Road" construction, and steadily and steadily promote the internationalization of the RMB. We will improve the financial regulatory mechanism, establish and improve the implementation of regulatory responsibilities and accountability systems, and effectively prevent and resolve financial risks in key areas. Efforts should be made to do a good job in the current key work in the financial sector, increase policy implementation and work promotion, maintain reasonable and sufficient liquidity, continue to decline financing costs, activate the capital market, better support the expansion of domestic demand, promote stable foreign trade and foreign investment, strengthen financial support for new technologies, new races and new markets, and accelerate the cultivation of new momentum and new advantages.

The meeting requested that all regions and departments, especially the financial system, should further unify their thoughts and actions into the spirit of General Secretary Xi Jinping's important speech and the decision-making and deployment of the Party Central Committee, adhere to goal-oriented and problem-oriented, and comprehensively strengthen the party's leadership over financial work. Strengthen financial supervision, prevent and resolve financial risks, and promote high-quality financial development, accelerate the construction of a financial power, and do a good job in publicizing and implementing the spirit of the conference, strengthen the construction of financial cadres and talents to ensure the implementation of work deployment.

He Lifeng made a concluding speech. Responsible comrades of the people's Bank of China, the State Administration of Financial Supervision, the China Securities Regulatory Commission, Beijing, Liaoning, Hubei and Sichuan provinces made exchange speeches.

Members of the Political Bureau of the CPC Central Committee, members of the Secretariat of the Central Committee, relevant leading comrades of the Standing Committee of the National People's Congress, state councilors, president of the Supreme People's Court, and relevant leading comrades of the National Committee of the Chinese People's Political Consultative Conference attended the meeting.

Members of the Central Financial Committee, major responsible comrades of various provinces, autonomous regions and municipalities, cities under separate state planning, Xinjiang production and Construction Corps, relevant departments of central and state organs, relevant people's organizations, relevant departments of the Central military Commission, financial institutions under the management of the central government, and some enterprises attended the meeting.

 

People's Daily (01 November 2023)

Source: People's Daily Online