Home » Properly respond to various financial risks and challenges and serve Chinese modernization with high-quality financial development | Every Economic Network

Properly respond to various financial risks and challenges and serve Chinese modernization with high-quality financial development | Every Economic Network

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…the capital market system, and promote the development of multi-level and diversified direct financing. In terms of promoting high-level financial opening up, the People’s Bank of China will continue to adhere to the principle of prudence, steadily promote the relaxation of market access, and further expand the scope of business for foreign-funded financial institutions. Promote the healthy and orderly development of foreign-funded institutions in my country’s financial market. Encourage foreign-funded financial institutions to participate in the reform and development of rural financial institutions, support foreign-funded financial institutions to participate in green finance, inclusive finance, and financial technology innovation, and promote the deep integration of domestic and foreign markets, industries, and technologies.

Li Yunze: Innovate and enhance comprehensive financial supervision
Xinhua News Agency: The Central Financial Work Conference pointed out that “the new era requires a new financial supervision system.” In the next step, how will the State Administration of Financial Supervision and Administration innovate and enhance comprehensive financial supervision?

Li Yunze: The new era requires more innovative and comprehensive financial supervision, and the State Administration of Financial Supervision and Administration will continue to improve the regulatory framework and technical means, effectively enhance the comprehensive and complete coverage of financial supervision, and improve the full-coverage, full-process, and all-round supervision capabilities.

First, we will continue to innovate regulatory concepts, methods, and models, and lay a solid foundation for digital, networked, intelligent, and innovative financial supervision by promoting the construction of modern financial regulatory systems and capabilities. Strengthen cross-sectoral, institutional, and market linkage supervision, establish and improve joint disciplinary mechanisms, and promote the realization of big data, artificial intelligence, and blockchain in regulatory applications.

Second, we will continue to enhance the regulatory system’s adaptability and scalability, improve the regulatory framework for new formats, new models, and new operations, and keep pace with the times in the context of financial technological innovation, financial marketization, and internationalization. We will establish regulatory mechanisms for financial holding companies, financial infrastructure, systemically important financial institutions, cross-border financial services, and other key areas to prevent and resolve major financial risks.

See also  Resolution 31 of 05/22/2023 - Adoption of the final ranking of the internal competition, referred to in Call no. 2/2022/CI, for qualifications and exams for the definitive coverage of the role profile (PDR) of Administrative Specialist Operator (OPSPAMMI) , with first assignment to the Extended Public Sector without specific identification of the assignment Unit/Organizational Section

Third, we will continue to deepen regulatory cooperation and jointly build a cross-border regulatory mechanism. Expand international financial cooperation channels and platforms, actively participate in supervisory standard-setting and rule-making, and promote mutual recognition and exchange of regulatory information. Strengthen cooperation with regulators in key countries and regions, jointly combat cross-border financial risks, and protect the interests of domestic and foreign investors and consumers.

In summary, the implementation of the spirit of the Central Financial Work Conference requires the joint efforts of all parties to build a high-quality financial development system that meets the needs of Chinese-style modernization. The People’s Bank of China and the State Administration of Financial Supervision and Administration will continue to adhere to the principles of stability, innovation, coordination, greenness, openness, and sharing, and strive to serve the real economy and maintain financial stability.

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