Xi Jinping Calls for High-Quality Financial Development with Chinese Characteristics
During the opening ceremony of a special seminar on promoting high-quality financial development for leading cadres at the provincial and ministerial levels, Chinese General Secretary Xi Jinping delivered an important speech. In his address, Xi Jinping proposed to actively cultivate a financial culture with Chinese characteristics. He outlined several key principles, including being honest and trustworthy, making profits with justice, being prudent and not seeking quick success, keeping integrity and innovating, and complying with laws and regulations.
Xi Jinping emphasized the importance of maintaining honesty and trustworthiness in financial practices, stating that these values have been crucial moral norms since ancient times and are even more important in today’s market economy system. He emphasized that the essence of finance is credit, and it has higher requirements for honesty and trustworthiness.
In addition to honesty, Xi Jinping also emphasized the need to profit with righteousness rather than focusing solely on profit-seeking. He highlighted the traditional Chinese Confucian economic ethics, which advocates thinking about righteousness before seeing profit and opposes forgetting righteousness and pursuing profit only.
Regarding financial risk management, Xi Jinping stressed the importance of being steady and prudent, not rushing for quick success. He pointed to China’s traditional culture, which has always advocated “being prepared for danger in times of peace” and “progressing steadily and going forward,” emphasizing the importance of risk prevention and control.
Xi Jinping also highlighted the importance of integrity and innovation, linking these values to the continuity and inheritance of China’s traditional culture. He emphasized the need to adhere to these values to continuously improve the service quality and efficiency of high-quality financial development in China.
Finally, Xi Jinping emphasized the importance of complying with laws and regulations and avoiding reckless behavior in the financial industry. He underscored the need to enhance awareness of the rule of law in promoting high-quality financial development and to strengthen the construction of financial rule of law.
The speech by Xi Jinping provides a fundamental basis for China’s financial system to inherit and promote China’s excellent traditional culture and points the way for improving financial soft power and building financial power. It outlines a clear path for China’s financial development with Chinese characteristics.
The authors of this article, Chen Xudong and Liu Na, are distinguished researchers and scholars in their respective fields at prestigious universities in China.
[Editor in charge: Lu Jiashan]