Regarding the opening of the capital market, monetary policy, insurance diplomatic relations, foreign exchange markets ... Just now, one party, two sessions, and one round,

Author:Securities daily Time:2022.09.02

Our reporter Wu Xiaolu Chang School Yu Jichuan Yang Jie on September 2nd, the 2022 China International Financial Annual Forum was held at the Steel Garden of the Steel Trade Association. Signal. Securities Regulatory Commission: The launch of three new and pragmatic cooperation in the Mainland and Hong Kong Capital Markets, Fang Xinghai, Vice Chairman of the Securities Regulatory Commission, said that since this year, in the face of multiple factors, the Securities Regulatory Commission has continued to work , Timely and decisively take a series of measures. "With the joint efforts of various parties, the capital market has been severely tested, the transaction remains active, the functions are well played, and it has played an important role in stabilizing the macroeconomic market and social expectations." Fang Xinghai said. "Foreign investment in my country's capital market has shown obvious toughness." Fang Xinghai said that with the continuous deepening of opening up, the quality and international influence of my country's capital market have also been significantly improved. At present, China's capital market has grown into the world's second largest market, and its degree of openness has increased, which has attracted more and more international investors to actively participate. In the next step, the China Securities Regulatory Commission will make overall development and security, fully support the stabilization of the economic market, and launch more intensive and in -depth open measures to promote the high -quality development of the capital market. The first is to continue to steadily promote the openness of markets, institutions, and products. Promote the legislative procedures for overseas listing, and do a good job of preparing for supporting rules and system construction after the reform and implementation. Expand and optimize the business of interconnected entrustment vouchers, and support more listed companies' interconnected and interconnected deposit vouchers to issue and listed. Further optimize and improve the Shanghai -Shenzhen -Hong Kong -connected mechanism, and promote substantial progress in the interconnection of the exchange bond market. Steady expansion of international varieties of commodities and financial futures, support the development of futures product settlement prices, and realize the diversification of the opening path of the futures market. The second is to further strengthen the construction of supervision and risk prevention capabilities in the open environment. Adhere to the requirements of "letting go, clearing, and controlling", strengthen the monitoring of cross -border capital flow, and maintain the smooth operation of the capital market. Implement the Sino -US cross -border audit supervision and cooperation agreement, and build an expected international regulatory environment for the high level of the capital market. Continue to strengthen communication with overseas institutional investors, continuously improve the convenience of investment in A -share investment, and continuously enhance the confidence of foreign investment in my country's capital market. The third is to further strengthen the pragmatic cooperation between the Mainland and the Hong Kong capital market. The CSRC attaches great importance to the complementary and coordinated development of the capital markets of the two places, and promotes the cooperation between the Mainland and the Hong Kong capital market to a higher level and deeper level, and supports Hong Kong's status of maintaining the international financial center. "In the next step, the CSRC will launch the following three new measures to expand the pragmatic cooperation between the capital markets of the two places with Hong Kong and relevant departments." Fang Xinghai said. The first is to expand the Shanghai -Shenzhen -Hong Kong Stock Connect stock standard. Promote the scope of the incorporation of the major listed foreign companies in Hong Kong and the stocks of more Shanghai and Shenzhen listed companies. The second is to support Hong Kong's launch of RMB stock trading counter. Research on the increase in RMB stock trading counter in the Hong Kong Stock Connect to help internationalization of the RMB. The third is to support Hong Kong's launch of national bond futures. Research and support Hong Kong's launch of national bond futures, accelerate the opening of the domestic government bond futures market to open to the outside world, and achieve coordinated development of the two places. CBRC: Support local insurance diplomatic relations and stabilize people's livelihood to promote the stable and healthy development of the real estate market, Zhou Liang, the vice chairman of the China Banking Regulatory Commission, said that the current international situation is intricate, unstable, uncertain, and unsafe factors have increased significantly. The domestic reform and development tasks are arduous and heavy. In the face of the new situation and new tasks, we must deeply understand the political and people's nature of financial work. It must be complete, accurately, and comprehensively implement the new development concepts, and unswervingly follow the road of financial development with Chinese characteristics. The first is to adhere to and strengthen the party's leadership, ensure the correct political direction of financial development, improve the institutional mechanism of the party's leadership financial work, and ensure that the party's central government's decision -making and deployment will be implemented. Adhere to the two "consistent" and deepen the organic integration of the party's leadership and corporate governance. Strengthen the construction of financial talents and cadre teams, continue to deepen the struggle of financial anti -corruption, seriously investigate and deal with the corruption problems behind financial risks, and create a financial ecosystem of customs. The second is to adhere to the concept of innovation and development and cultivate and stimulate new economic and financial momentum. It is necessary to strengthen supervision and leadership, focus on the transformation of scientific and technological achievements, research and development of key technology, provide high -quality financial services for the realization of technological independence and self -reliance, and guide more financial resources, especially for medium- and long -term funds to invest in advanced manufacturing, strategic emerging industries, better services better services Enterprises that are related to corporate technology and "specialized new" enterprises will promote digital transformation in the banking and insurance industry, make full use of new technologies to strengthen management and improve services, encourage large banks to export risk control tools and technologies to small and medium banks, enhance financial finance Product innovation and technological support. The third is to adhere to the concept of coordinated development, promote more balanced and sustainable economic growth. Give full play to the active role of financial support regional coordinated development, and strongly support the development strategies such as Beijing -Tianjin -Hebei, the Yangtze River Delta, and the Guangdong -Hong Kong -Macao Greater Bay Area. Optimize the urban and rural layout of financial institutions, improve the financial market system of multi -level, wide coverage, and differentiated financial institution, and build a financial market system for direct financing and indirect financing. The fourth is to adhere to the concept of green development, introduce financial live water, and moisturize the green mountains.

Improve the green financial standard system, the construction of green digital infrastructure, the green product innovation system and the green incentive constraint mechanism. Actively develop green credit and green insurance, coordinate energy security and green transformation and development, meet the reasonable financing needs of energy power supply, and promote the comprehensive green transformation of economic and social development. Fifth, adhere to the concept of open development and serve the new development pattern of dual -cycle. Support the management model of national treatment+negative list before access, build a fair, open, transparent, stable and predictable policy environment, improve the rules of the system, accelerate the transformation to high levels and institutional types, based on the advantages of my country's oversized market, rely on domestic domestic advantages, rely on domestic domestic advantages Large cycle, attracting the global elements of high -quality financial resources, improving quality and efficiency, in the fields of wealth management, health care, consumer finance and other fields, high -level and professional foreign -funded institutions are welcome to come to China. Sixth, adhere to the concept of sharing development, so that the results of financial development can better benefit all the people. Develop inclusive finance, guide bank insurance institutions, strengthen small and micro enterprises and three farmers 'financial services, effectively meet the financial needs of new citizens' entrepreneurial employment, house purchase and residence, etc., do a good job of financial assistance, promote, consolidate, and expand poverty alleviation. Achievements are effective in rejuvenation in the same village. Strengthen the stability of the enterprise and take the initiative to do a good job of financing for industries in difficulties. Standardize the development of the third pillar of pension insurance, accelerate the development and improve health insurance, better play the positive role of insurance in disaster prevention and mitigation, strengthen the protection of financial consumer rights and interests, and improve the financial literacy of the whole society. Seventh, insist on coordinating development and security, and firmly hold the bottom line that does not have systemic risks. It is necessary to balance the relationship between steady growth and risk prevention. Under the premise of maintaining the stability of the economic situation, the risks are dispatched in an orderly manner, the risks of small and medium -sized financial institutions are securely resolved, supporting local issuance of special bonds to supplement small and medium -sized bank capital, and actively cope with the rebound of non -performing assets. Improve the monitoring and disposal of large -scale corporate debt risk, ensure the stable and orderly and orderly real estate financing, support local insurance, stabilize people's livelihood, promote the steady and healthy development of the real estate market, strengthen financial legislation and system construction, promote the construction of regulatory big data platforms, optimize supervision collaborative mechanisms , Improve regulatory efficiency. Central Bank: Monetary policy must be further adjusted for cross -cyclical adjustment and maintaining a reasonable liquidity. "The current consumer prices are relatively mild, creating good conditions for the regulation of monetary policy." The monetary policy should be further regulated by cross -cycle, maintaining the stable and moderate growth of monetary credit, and maintaining reasonable liquidity, and helping economic development. At the same time, it also pays close attention to the inflation trend at home and abroad. In terms of continuous improvement of structural monetary policy tool system, Ruan Jianhong said that the first is to continue to enrich and improve the structural monetary policy tool box. Long -term tools should pay attention to establish and improve long -term mechanisms. Persist in inspirational compatibility, the People's Bank of China must fully play the role of leverage, guide financial institutions' funds, and strengthen incentives and constraints to ensure accurate drip irrigation. Finally The dual function of quantitative and structurally has the ability to launch the basic currency. It needs to coordinate and cooperate with the total tools to maintain the reasonable and abundant liquidity. Talking about how to deepen financial reform and opening up next, Ruan Jianhong said that the market -oriented reform of interest rates must further improve the formation and conduction mechanism of market -oriented interest rates, stabilize the debt cost of banks, and promote the reduction of comprehensive financing costs of enterprises. Elasticity, strengthen the management of expected management, and play the function of the automatic stabilizer of the macroeconomic and international revenue and expenditure of exchange rates. The RMB internationalization adheres to the market -led market, improves the institutional arrangement of cross -border use of RMB, and increases the convenience and operability of policies. At the same time, the financial regulatory system is constantly improving, improving regulatory capabilities, and keeping the bottom line that does not occur without systemic financial risks. The financial industry takes the real economy as the fundamental point and starting point. Since the beginning of this year, the financial service real economy has helped the economy to resume development, adhere to steady progress, take the initiative to respond to forward efforts, and support the economic market. On the other hand, it is to empower the transformation of the real economy, implement new development concepts, and build a new development pattern. National Foreign Exchange: Further deepen the reform and opening up in the field of foreign exchange, Zheng Wei, the deputy director of the State Administration of Foreign Exchange, and the facilitation of cross -border trade and investment and financing, said that since this year, my country's foreign exchange market has operated smoothly, showing strong toughness. Specifically, the first is that the international revenue and expenditure remains basically balanced. In the first half of the year, the fundamental international income and expenditure surplus continued to play a dominant role and promoted the independent balance of international revenue and expenditure. The regular account surplus was 169.1 billion U.S. dollars, which was 1.9%of the domestic GDP, and continued to be in a reasonable balanced equilibrium. Division. At present, my country's cross -border funds flow is generally stable, and the supply and demand of domestic foreign exchange and demand is basically balanced. Second, the quality of trade development has steadily improved. Faced with a complex internal and external environment, my country's policy and measures in the stability of the economy have been effective, and the import and export of cargo trade shows strong toughness. In the first half of 2022, my country's high value -added products exports performed well. Essence At the same time, my country's service trade imports and exports have maintained the second place in the world for many years, and the average annual annual growth rate of productive services from 2010 to 2021 is 9.8%, which has gradually become an important force to lead the industry to high -end value chain.

Third, direct investment maintains a high level of net inflow. At present, the fundamental fundamentals of my country's economy have not changed for a long time, and continue to attract funds for direct investment and medium and long -term asset allocation. In the first half of 2022, the net inflow of direct investment in my country was US $ 74.9 billion, of which a net inflow of direct investment in China showed a strong attraction of foreign investment in my country's market. According to Zheng Wei, since this year, the State Administration of Foreign Exchange has expanded the pilot piloting of the foreign capital pool of multinational companies, optimizing relevant policies, and supporting the development of the headquarters economy. The degree of the degree of multiple measures, the management of the exchange rate risk of serving the company. First, we jointly issued a notice of the prevention and control of the epidemic and economic and social development financial services with the People's Bank of China to enhance the ability of enterprises to respond to exchange rate fluctuations. The second is to cooperate with the business and financial departments to support small and medium -sized enterprises, reduce the cost of insurance, and support the China Foreign Exchange Trading Center for free transaction fees for foreign exchange derivatives of small and medium -sized enterprises. The third is to issue notice on further promoting the foreign exchange market to serve the real economy of the real economy, innovate the launch of two types of options products, and provide more support measures for the risk aversion of enterprise exchange rates. The fourth is to issue the guidance of corporate exchange rate risk management, which provides useful reference for foreign exchange rate risk management for foreign -related enterprises. Picture | Site Cool Hero Bao Map.com

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