Xinhua News Agency, Beijing, October 21stTopic: Real estate finance, pension financial products… China Banking and Insurance Regulatory Commission responds to hot market issues
Xinhua News Agency reporter Li Yanxia
How does the banking and insurance industry serve the real economy at present? How do you view the debt problem of Evergrande Group? How is the progress of the pilot financial management products for the elderly? At the press conference of the State Council Information Office held on the 21st, the heads of relevant departments of the China Banking and Insurance Regulatory Commission responded to the current hot market issues.
The quality and efficiency of serving the real economy has been further improved
Wang Chaodi, the chief inspector of the China Banking and Insurance Regulatory Commission, said that the current banking and insurance industry has further improved the quality and efficiency of serving the real economy, the supply of funds has been steadily increasing, the credit structure has been steadily improving, and the insurance industry’s overall protection capabilities have continued to increase.
Data show that at the end of September, the manufacturing loan balance was 22.2 trillion yuan, a year-on-year increase of 12.6%, most of which were medium and long-term loans. The high-tech manufacturing loan balance was 3.7 trillion yuan, a year-on-year increase of 13.8%. The balance of loans to inclusive small and micro enterprises was 18.5 trillion yuan, a year-on-year increase of 25.2%. In the first three quarters of the insurance industry, accumulative compensation expenditure was 1.2 trillion yuan, a year-on-year increase of 17.9%. The role of the social “stabilizer” has further emerged.
In response to the tight energy supply situation, Wang Chaodi said that it is necessary to do everything possible to ensure the reasonable financing needs of coal-fired power, coal, steel, non-ferrous metals and other production enterprises, and urge financial institutions to provide support for coal-fired power, coal, heating and other enterprises that meet the supporting conditions. The project gives reasonable credit support. At the same time, improve the level of fine management of credit, and support the transformation and upgrading of traditional industries such as steel and non-ferrous metals.
Ye Yanfei, head of the Policy Research Bureau of the China Banking and Insurance Regulatory Commission, said that “specialized, new and innovative” small and micro enterprises are the backbone of small and micro enterprises. Corporate brand, intellectual property rights, etc., and guide banking institutions to match the production and operation cycle of “specialized, special-new” enterprises as much as possible in terms of maturity.
Financial risk prevention and control capabilities are further improved
Wang Chaodi said that the current bancassurance institutions have continued to strengthen their ability to resist risks, and the overall risk is controllable.
Data show that at the end of September, the domestic non-performing loan balance of the banking industry was 3.6 trillion yuan, and the non-performing loan ratio was 1.87%. The balance of provision of banking institutions was 7 trillion yuan, and the provision coverage ratio was 192.4%. The capital adequacy ratio of commercial banks was 14.8%, the comprehensive solvency adequacy ratio of insurance companies was 243.7%, and the core solvency adequacy ratio was 231%.
“We adhere to laws, regulations, integrity and innovation, and orderly carry out anti-monopoly and anti-unfair competition rectifications in the financial sector, prudently handle high-risk financial institutions, and strictly prevent the resurgence of high-risk shadow banking business. The scale of shadow banking continues to decline, and P2P online lending institutions The outstanding balance dropped from more than 800 billion yuan at the beginning of the year to 500 billion yuan.” Wang Chaodi said.
In response to the issue of Evergrande Group, Liu Zhongrui, head of the Statistical Information and Risk Monitoring Department of the China Banking and Insurance Regulatory Commission, said that the issue of Evergrande Group is a problem of individual enterprises and will not have a major impact on the reputation of the industry or the entire Chinese-funded enterprise. The key to the credibility of Chinese-funded enterprises lies in China’s macroeconomic stability, which has laid the foundation for the long-term stable development of real estate enterprises.
“From the perspective of the financial sector, it is mainly in accordance with the principles of marketization and rule of law, in accordance with the requirements of the real estate financial prudential management system, and cooperating with relevant departments and local governments to jointly maintain the stable and healthy development of the real estate market and safeguard the legitimate rights and interests of housing consumers.” Liu Zhongrui Express.
He said that the China Banking and Insurance Regulatory Commission urged banks to implement the regulatory requirements for real estate development loans and personal housing loans, and cooperated with the People’s Bank of China in implementing the real estate loan concentration management system, and the growth rate of real estate loans was steady and slowing down. By severely punishing violations of laws and regulations, the illegal flow of loans for business purposes into the real estate sector has been effectively curbed.
Pilot financial management products for the elderly have entered the filing stage
Wang Chaodi said that the China Banking and Insurance Regulatory Commission is actively carrying out pension financing pilot projects, following the work idea of “jogging in small steps, gradual progress in general”, and taking into account factors such as urban scale, economic and social development level, and residents’ pension needs, taking into account both the eastern and central regions. For the needs of the western region, Wuhan, Chengdu, Shenzhen, and Qingdao were selected as pilot cities for financial management for the elderly.
“In terms of the pilot scale, based on our existing risk management and control capabilities and comprehensive considerations, we have determined that the fundraising scale of a single pilot project shall not exceed 10 billion yuan in principle, and the purchase amount of a single investor shall not exceed 3 million yuan in principle. The relevant pilot products have entered the filing stage, and they may meet with consumers in the’four places and four institutions’ at the end of this month or next month.” Wang Chaodi said.
He said that the China Banking and Insurance Regulatory Commission is studying and promoting pilot projects for pension savings business. China is a big savings country. How to enrich the construction of the pension insurance system by setting up a special pension savings business is an important task. The China Banking and Insurance Regulatory Commission is working with relevant departments to study detailed plans to meet the diverse needs of the people for the elderly through this reform.
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