The Office of the Central Financial Commission of the Communist Party of China and the Central Financial Working Committee have emphasized the importance of stability in financial policies in an article published in China’s official media, “People’s Daily.”
The article, released on Thursday (April 25), stated that financial policies should not be tightened and released too hastily to prevent sudden ups and downs in the economy. It highlighted the need to maintain a balance between stability and progress in financial development with Chinese characteristics.
According to the article, stability is crucial as it serves as the foundation for economic development. Without stable financial policies, there is a risk of financial crises that can severely impact economic progress. Therefore, it is essential to adhere to the principle of stability in macro-control, financial development, financial reform, supervision, and risk management.
On the other hand, progress is also necessary to drive economic growth. The article emphasized the importance of advancing methods, adjusting structures, and enhancing development resilience through financial reform and development. It highlighted the need for a proactive approach to financial work to promote high-quality economic development.
The article also stressed the importance of preventing risks by maintaining timely and effective financial policies. It advised against impulsive actions and reckless behavior, advocating for a scientific and reasonable approach to financial mechanisms. Additionally, it called for strengthening financial supervision to prevent and control risks effectively.
In conclusion, the article emphasized the importance of serving the real economy through financial policies. It highlighted the need for prudent monetary policies, policy coordination, and efficient financial resource allocation to support stable economic growth and employment. The article also called for the construction of a modern financial system with Chinese characteristics to encourage financial institutions to focus on their core businesses and avoid expansion disorderly.
To stay updated with the latest news and information, please visit our official Facebook page: https://www.facebook.com/zaobaosg/.