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Continue to optimize the financial market structure-Comments-China Engineering Network

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China Aims to Optimize Financial Market Structure to Accelerate Modernization

China is focused on building a robust and structured financial market system to accelerate the construction of a modern financial system with Chinese characteristics. The nation has made significant achievements in financial reform and development, establishing a diversified, multi-field, and multi-level financial market system. However, there are still shortcomings that need to be addressed.

Efforts to optimize the market structure are underway to expand the depth and breadth of the financial market, improve the variety and quality of financial services, and strengthen the operational efficiency of the financial market. To achieve this, it is essential to unblock channels for funds to enter the real economy and enhance the financing convenience and efficiency of the real economy. Financial support for major strategies, key areas, and weak links is also a priority, with a focus on high-quality financial development, technological innovation, green and low-carbon economic transformation, digital economic transformation, and support for the elderly care and people’s livelihood industry.

With the rapid development of information technology and financial innovation, the financial industry is moving towards technological finance and digital finance. The operating models of domestic banks and insurance markets are innovating, and inclusive service models continue to improve. Additionally, reforms of state-owned commercial banks and support for the coordinated development of large, medium, and small banks are underway. The development of the multi-pillar pension insurance system and the expansion of inclusive insurance products are also being actively supported.

Changes in the financial market system structure are a result of joint efforts between supervision and the market. Regulatory authorities are strengthening collaboration and coordination to ensure a reasonable structure, consistent rules, smooth operations, and efficient services within the financial market. Efforts are focused on listening to the opinions of all parties in the market, promoting financial innovation, and continuing to develop new markets, new businesses, and new models.

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In addition to these efforts, China is also working to strengthen financial risk prevention, control, and management, establishing a full-process management mechanism for early warning, detection, and disposal of risks.

Overall, the optimization of the financial market structure in China aims to accelerate the modernization of the financial system and provide high-level services for Chinese enterprises to “go global.”

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