Shanghai Securities News China Securities News (Reporter Zhang Jones) The Financial Stability Bureau of the People’s Bank of China published an article on the official website and the WeChat public account of the People’s Bank of China on March 3. “. The article believes that important achievements have been made in preventing and resolving financial risks since the 19th National Congress of the Communist Party of China. At present, my country’s financial system has a stable foundation: banking financial institutions are generally stable; the concept of legalization and marketization has been comprehensively strengthened; and the long-term mechanism for risk prevention and control is increasingly improved.
Li Peijia, director-level senior researcher at the Bank of China Research Institute, said that in general, the chaos in my country’s financial market has been controlled in recent years, and financial risks have tended to converge. In particular, issues such as shadow banking, the savage growth of Internet finance, and the disorderly expansion of capital have been preliminarily addressed. The operations of some small and medium-sized financial institutions have become increasingly standardized, and the mechanisms for dealing with problematic institutions are being improved. The deposit insurance system has also been initially established. It will lay a solid foundation for my country to cope with the impact and changes of the internal and external situation in the future.
Li Peijia believes that my country’s financial system is currently sound as a whole, and both the financial institutions’ own coping capabilities, the financial system’s overall protection capabilities, and safety buffers are relatively complete. For example, the current non-performing ratio of commercial banks in my country is still at a low level of 1.73%, and the provision coverage ratio of commercial banks is relatively high in history. As long as there are no major external shocks and extreme events, my country’s financial system is resilient enough to deal with internal and external shocks.
“Be prepared to govern the country without fear.” Li Peijia said that a sound risk management mechanism is the fundamental guarantee for preventing and defusing risks. In the future, the financial industry should continuously improve the risk management mechanism from the perspective of maintaining national financial security. In particular, from the security perspective of external shocks and geopolitical conflicts, it is necessary to analyze and judge the risks of large fluctuations in the international financial market and the imported risks of the Fed’s monetary policy shift, so as to achieve early detection and identification of risks. At the same time, the ability to identify and prevent new risks such as financial infrastructure security, data security, climate investment and financing should be enhanced.Return to Sohu, see more
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