On July 31, the Chinese peopleBankAnnouncement, July 30th, PeopleBankConvene a work conference in the second half of 2021 to convey and study the overall judgment of the Party Central Committee and the State Council on the current economic situation and the important arrangements for economic work in the second half of the year, and summarize the people in the first half of the year.BankSystematic work, clarify key tasks in the second half of the year.
The meeting held that since the beginning of this year, my country’s economic operation has been steadily strengthened, steadily improving, and in line with expectations, the economic development momentum has further strengthened, and the main macro indicators are within a reasonable range.Facing the complicated and severe economic and financial situation, the People’s Bank of China earnestly implemented the various decisions and deployments of the Party Central Committee and the State Council.currencyPolicies strongly support high-quality economic development, effectively prevent and resolve major financial risks, deepen financial reform and opening up in key areas, continuously improve financial services and management, and continue to strengthen the party building of the People’s Bank of China. New and notable results have been achieved in various tasks.
The meeting requested that in the second half of 2021, we should conscientiously integrate our thinking and actions into the Party Central Committee’s judgment and decision-making deployment on the economic situation, adhere to the general tone of the work of seeking progress while maintaining stability, maintain the stability of macroeconomic policies, and insist on not engaging in “overwhelming flooding.” Enhance forward-looking effectiveness and prudent monetary policy will continue to focus on supporting the real economy. We must vigorously promote reform and opening up, strengthen fair supervision, oppose monopoly and unfair competition, promote the steady growth of foreign trade and foreign investment, consolidate the stable and positive trend of the economy, ensure the completion of the main goals and tasks of the year’s development, and provide a powerful and effective way to accelerate the construction of a new development pattern. financial support.
The first is to adhere to the principle of stability, and a prudent monetary policy must be flexible, precise, reasonable and appropriate. Do a good job in cross-cycle policy design, and grasp the pace and intensity of policy implementation.Comprehensively use a variety of monetary policy tools to maintain reasonable and sufficient liquidity, guide the reasonable growth of loans, and maintaincurrency supplyAnd the growth rate of social financing scale basically matches the nominal economic growth rate, and the macro leverage ratio is basically stable.Continue to deepeninterest rateMarket-oriented reforms to promote actual loansinterest rateStable and decline. Deepen the reform of the RMB exchange rate formation mechanism and keep the RMB exchange rate basically stable at a reasonable and balanced level. Guide financial institutions to increase support for key areas and weak links such as small and micro enterprises, “agriculture, rural areas, and farmers”, and manufacturing. Promote the integrated development of inclusive finance and green finance, science and innovation finance, and supply chain finance as a whole, and improve the financial support policy system for technological innovation. Continue to do a good job in financial services for rural revitalization and financial assistance.
The second is overall coordination and speeding up the improvement of the green financial system. Promote the implementation of carbon emission reduction support tools, provide low-cost funds to qualified financial institutions, and guide financial institutions to provide preferential interest rate financing for key areas with significant emission reduction effects. Steadily promote carbon emission information disclosure and green finance evaluation. Strengthen climate risk management and carry out climate risk stress tests in an orderly manner. Strengthen investigation and research on key issues of green finance.
The third is to effectively prevent and resolve major financial risks. Closely monitor and investigate risk points in key areas. Implement major financial risk accountability and financial risk notification systems. Strengthen local party and government risk disposal territorial responsibilities. Promote the reduction of the number of high-risk institutions in key provinces.
Fourth, continue to strengthen macro-prudential management. Improve the macro-prudential policy framework. The macro-prudential policy guidelines will be issued in due course. Carry out macro-prudential stress tests step by step, establish a countercyclical capital buffer evaluation mechanism and carry out annual evaluations.Implement wellreal estateFinancial prudential management system. Promote the supervision of financial holding companies. Strengthen the supervision of systemically important financial institutions.
The fifth is to further promote financial opening in an orderly manner. Continue to do a good job in the implementation of the financial industry’s opening-up commitments, take the initiative to benchmark against high international standards, and promote the formation of a higher level of financial opening based on the negative list. Coordinate and coordinate national opening up, opening up pilot free trade zones, and bilateral or regional opening up through free trade agreements. Continue to promote international cooperation in green finance.
Sixth, deepen financial reforms in key areas. Continue to prudently promote the internationalization of the RMB, deepen foreign currency cooperation, and develop the offshore RMB market. Carry out high-level open-up pilots for cross-border trade and investment. We will expand the pilot program of trade balance facilitation and support more regions, especially the central and western regions, to participate in the pilot program. Promote the reform of foreign debt registration and management, and improve the management policy for domestic bond issuance by overseas institutions. Steadily advance the digital RMB research and development pilot.
The seventh is to supervise and guide platform companies to make comprehensive rectifications in accordance with regulatory requirements, and maintain a high pressure on virtual currency trading hype. Adhere to the same kind of business and similar institutions to ensure that the implementation of rectifications on time and quality, maintain business continuity and normal business operations, and maintain the quality of financial services to the broad masses of people. Adhere to marketization, rule of law, and internationalization, adhere to the “two unshakable”, protect property rights and intellectual property rights, and create a fair market environment.
Eighth, continue to do a good job in financial services and management. Promote important legislation in the financial industry. Deepen the reform of decentralization, management and service. Continue to do a good job in comprehensive statistics of the financial industry. Actively promote the implementation of the payment service fee reduction policy and take effect. We will do a good job in the demonstration project of financial technology empowering rural revitalization and the pilot project of comprehensive application of financial data. Implement various financial service tasks for the Beijing Winter Olympics. Deeply rectify the rejection of cash. Speed up the improvement of the treasury management system and vigorously promote the construction of informatization. Promote the promulgation of the “Credit Investigation Business Management Measures” to strengthen the protection of personal data and the rights and interests of information subjects. Improve the anti-money laundering coordination mechanism. Severely crack down on acts that infringe on the legitimate rights and interests of financial consumers.
(Source: Securities Daily)
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