One line, two sessions and one game, one game collectively sounds!Ten years of achievements in China's financial industry and capital market!

At the press conference, Wu Xiaolu Liu Qi and Du Yumeng Su Xiang Yang Yang Jie, on June 23, the Propaganda Department of the Central Committee of the Communist Party of China held a series of theme press conferences of the "Ten Years of China". Xiao Yuan Enterprise, Li Chao, vice chairman of the China Securities Regulatory Commission, Wang Chunying, deputy director and spokesman of the State Administration of Foreign Exchange, introduced the reform and development of the financial sector since the 18th National Congress of the Communist Party of my country. At the same time The market hotspots such as banking problems responded. Starting at 3 pm, the "Securities Daily" reporter arrived half an hour in advance, and the scene was no longer a seat. The reporter learned from the mouth of the on -site staff that some media came to the scene "card position" early at about 2 pm. The popularity of the "exhibition" of the ten -year reform achievement in the financial field is evident. Central Bank: Since 2012, the average growth rate of M2 has a 10.8%macro leverage rate of 10.8%. Generally, the "stable word" and "ten years since the 18th National Congress of the Communist Party of China are the ten years of Chinese financial industry." Chen Yulu said Essence Looking back at these ten years, Chen Yulu talked about the stable implementation of the Monetary policy of the People's Bank of China, comprehensively and judged the complex and changeable domestic and foreign economic and financial situations, and exerted the dual functions of the total amount of monetary policy regulation and structural adjustment. To strengthen the adjustment of the cycle, it should effectively impact on the internal and external internal and external of the century epidemic. In this process, it has effectively promoted stable growth, stability, stable employment, and international revenue and expenditure. The People's Bank of China insists on controlling the total monetary gate, does not engage in large water irrigation, and protects the people's money bags. Data show that since 2012, the average annual growth rate of the general currency supply (M2) is 10.8%, which has basically matched the average annual growth rate of nominal GDP, which has effectively promoted the steady development of the national economy. Watching: Du Yumeng Data Source: The People's Bank of China Chen Yulu also talked that in the past ten years, the People's Bank of China has led financial support for the real economy to achieve high -quality development with new development concepts. Over the past ten years, coordinating financial development and security have kept the bottom line that does not occur without systemic financial risks. Take the lead in preventing and resolving major financial risks, and achieved important staged results. The risks in key areas have been safely disposed of. The overall convergence of financial risks and overall controllable. In the past ten years, the People's Bank of China has continuously strengthened the construction of national financial infrastructure in the era of digital economy, and the modern financial service system has reached a new level. Regarding how the macro -control effect in my country has been in recent years, Chen Yulu said that changes in macro leverage rates are an important indicator of measuring the effect of macro -control. In recent years, the People's Bank of China has continuously improved the financial macro -control system, innovating and improving the method of macro -control. Under the premise of maintaining stability in the macro leverage rate, it has strongly supported the development of the real economy. Division. Chen Yulu further stated that from the vertical perspective, the macro leverage ratio of China at the end of 2021 was 272.5%, an increase of 23.9 percentage points from the end of 2016, that is, the average annual increase of about 4.8 percentage points in the past five years. In these five years, the average annual growth rate of China's GDP was about 6%, and the average annual increase of CPI increased by about 2%, and an average of more than 13 million urban employment was added per year. In other words, China has supported the optimized combination of "higher growth, lower inflation, and more employment" with a mild and controllable macro leverage increase rate, and macro -control has achieved good results. From the horizontal point of view, since the epidemic of new crown pneumonia, China has supported the rapid recovery of the economy with relatively few new debt, and the increase in macro leverage ratio is significantly lower than that of other major economies. After the outbreak of the new crown pneumonia, countries generally adopted a super loose stimulus policy to cope with the decline, which caused a significant increase in macro leverage. At the end of 2021, the average level of leverage in the country's statistics from the International Clearance Bank was 264.4%, which was 18.3 percentage points higher than the end of 2019. China's data was 16.5 percentage points. "This reflects the macro policy orientation that we do not engage in‘ big water, do not exceed currency, and do not overdraw the future. ”Chen Yulu said that while stabilizing leverage, the Chinese economy continued to lead, and inflation is generally controllable. From 2020 to 2021, the average growth rate of China's economy was 5.1%in two years, 4.1, 6.6 and 5.7 percentage points higher than the United States, Japan and the euro area, and the inflation level was significantly lower than that of major developed economies. Chen Yulu said that in general, China's macro -control policies in recent years have been strong, well, and effective. The macro leverage rate generally realizes "steady words" to ensure that the national economy is in a reasonable range, and it also does for global economic growth. A positive contribution has become an important source and stabilizer of the global economy. The CBRC: The virtuous cycle of financial and the real economy has gradually formed the next step to work to achieve all financial activities into supervision Xiao Yuan Enterprise said that since the 18th National Congress of the Communist Party of China, the development of my country's financial industry has achieved worldwide attention, and the banking insurance industry has achieved new implementation. Leaping development. Specifically, it is mainly reflected in four aspects: First, the virtuous cycle of finance and the real economy is gradually formed. In the past ten years, the average annual growth rate of bank loans and bond investment was 13.1%and 14.7%, respectively, which basically matched the nominal GDP growth rate. Compared with historical peaks, the financial management and trust channels have been greatly reduced, and the financial breakdown has been reversed.

The depth of insurance has increased from 2.98%to 3.93%, and the density of insurance has increased from 1144 yuan to 3179 yuan per person. Since its establishment in 2012, it has covered 1.22 billion urban and rural residents since its establishment in 2012. Long -term care insurance covers nearly 150 million people. Agricultural insurance Providing risk protection from farmers increased from 9 trillion yuan in 2012 to 4.4 trillion yuan in 2021, which provided key funds guarantee for post -disaster reconstruction. The average annual growth rate of inclusive small and micro -enterprise loans and inclusive agricultural loans reached 25.5%and 14.9%, respectively, which was much higher than the average growth rate of loans. There are about 9.5 per capita bank accounts, and inclusive financial coverage is significantly improved. The second is to prevent and resolve major financial risks to achieve important results. The financial regulatory authorities resolutely prevent and resolve financial risks, and the blind expansion of financial assets has been fundamentally reversed. High -risk shadow banks decreased by about 25 trillion yuan compared with historical peak pressure. The disposal of non -performing assets has been promoted. In the past ten years, the cumulative digestion of non -performing assets was 16 trillion yuan, and a large number of outstanding risks were eliminated. Financial violations and corruption are severely punished. Third, the reform and opening up of the banking industry's insurance industry presents a new situation. Continue to improve the governance of financial institutions and deepen the reform of the Agricultural Credit Society of SMB. The third pillar pilot insurance reform pilot has made significant progress. The scope of exclusive commercial pension insurance pilots expanded to the whole country, and the scope of pilot financial management pilots expanded to ten places and ten institutions. At the end of May 2022, the subscription amount of pension wealth management exceeded 60 billion yuan. "Over the past ten years, we have launched more than 50 bank insurance open policies. In 2021, the capital and assets of foreign foreign banks have increased by more than 50%from ten years ago, and the capital of China Foreign Insurance Company has increased by 1.3 times in ten years. . A large number of professional banking insurance institutions, such as foreign financial management companies, foreign asset management companies, etc. actively participating in the development of China's financial market. "Xiao Yuan Enterprise said. The fourth is that the atmosphere of strict supervision is basically formed. The CBRC has formulated and revised more than 70 legal and regulations, and has achieved significant results in the construction of financial rule of law, and has improved significantly in accordance with the law. Top five batches of 124 illegal shareholders to the society. The violations of laws and regulations of the bank insurance institutions and relevant responsible persons are severely punished by various forms, and financial risk prevention and financial corruption punishment will be promoted. It is worth noting that the China Banking Regulatory Commission attaches great importance to the healthy development of small and medium -sized banks, especially small banks. In terms of non -performing loans, a total of 5.3 trillion yuan of non -performing loans for small and medium banks has been disposed of in the past five years, which is very strong. "Generally speaking, Chinese small and medium -sized banks are running smoothly, and their development is also healthy. Although there are still some problems, especially the risk of individual institutions is relatively high, and some are suspected of illegal crimes, but in general, risks are completely controllable and controllable. The legitimate rights and interests of the majority of financial consumers are protected in accordance with the law, and the financial regulatory authorities will spare no effort to do related work. "Xiao Yuan Enterprise said. In addition, Xiao Yuan Enterprise said, "In the near future, Xiao Yuan Enterprise said," Recently, the local public security authorities in Henan and local financial supervision departments have notified the media on the issues of individual villages and towns in Henan. A group of criminal suspects have seized a number of assets involved in the case. The China Banking Regulatory Commission will cooperate with the local party committee and government to do related work. We have instructed the Henan Banking Insurance Regulatory Bureau to fulfill their supervision duties and protect the legitimate rights and interests of the people in accordance with the law. "Xiao Yuan The company stated that the next step will continue to work hard from the following aspects: first, continuously optimize the financial structure system; the other is to continue to deepen the reform of bank insurance institutions and strengthen corporate governance and construction, especially to deepen the reform of rural credit cooperatives, urban commercial bank reforms, and urban commercial bank reforms, and urban commercial bank reforms, and urban commercial bank reforms, and urban commercial bank reforms, and urban commercial bank reforms, and urban commercial bank reforms, and urban commercial bank reforms, and urban commercial bank reforms, and urban commercial bank reforms, and urban commercial bank reforms, and urban commercial banks 'reforms, and urban commercial banks' reforms, and urban commercial banks 'reforms, and urban commercial banks' reforms, and urban commercial banks 'reforms, and urban commercial banks' reforms, and urban commercial banks. The reform of the insurance marketing system; the third is to further strengthen the risk prevention and control. The main point is to further enhance the risk prevention and control capacity of the bank insurance institution; the fourth is to build a financial supervision system with Chinese characteristics to make all financial activities be included in the income Supervision, establish a full chain and comprehensive supervision mechanism arrangements in the post -event. CSRC: In the past ten years, the size of the stock market has increased by 238.9%of the stock bond financing reached 55 trillion yuan. "In the past ten years, the stock market size has increased by 238.9%, and the size of the bond market has increased by 444.3%. Investors have more than 200 million, making important contributions to high -quality development. "Li Chao said. The scale of the stock market of the Shanghai and Shenzhen Exchange (Data Source: CSRC) Li Chao has summarized the six major changes in the capital market in the past ten years: First, the breadth and depth of serving the real economy has expanded significantly. Vigorously improve the multi -level market system, launch new three boards and science and technology boards, and set up the Beijing Stock Exchange. The capital market has greatly enhanced the adaptability of the real economy, and the cumulative stock financing has reached 55 trillion yuan. The high -level cycle of smoothing technology, capital and the real economy, the "hard technology" industrial agglomeration effect of the science and technology innovation board was initially formed. The exchange bond market has become an important channel for non -financial corporate bond financing, and futures options cover the main areas of the national economy. The second is to comprehensively deepen reforms to achieve important breakthroughs. Focusing on deepening the structural reform of the financial supply side, comprehensively deepening the capital market reform, the basic system is more mature and set. Realize the leaping of the approval system to the registration system, steadily promote the pilot registration system, the degree of marketization, review of registration efficiency, and expected to greatly improve, and key systems such as transactions and delisting have improved systematization, and reform meets the expectations of all parties in the market. Third, the high -quality market subject has developed a new level.

The proportion of the profit of physical listed companies accounted for the profit of industrial enterprises from 23%ten years ago to nearly 50%, and the status of the national economic pillar has more consolidated. The total assets of securities and futures management agencies have increased by 5.5 times in ten years, and the scale of public fund management is currently 26 trillion yuan, an increase of 8 times in ten years, and the industry's strength has increased significantly. Fourth, the international attraction and influence of the capital market have increased significantly. Coordinate openness and safety, and the system is open to open a new chapter. The industry institutional institutional stocks have been fully liberalized, and the Shanghai -Shenzhen -Shenzhen -Hong Kong Stock Connect and Shanghai -London Stock Connect are launched. A shares have been incorporated into the internationally renowned index and continued to increase the proportion. Foreign capital has maintained net inflow for many years. Fifth, the capital market's legal system "four beams and eight pillars" is basically completed. The amendments to the New Securities Law and Criminal Law (11) have been implemented, and the State Council issued the opinions of the State Council on strictly cracking down on securities illegal activities in accordance with the law. The "law enforcement deterrent power has been significantly enhanced, and the situation where the cost of market violations and regulations is too low. Sixth, the market toughness and anti -risk capabilities are significantly enhanced. Adhere to the improvement of supervision and governance through reform, improve the stability and external restraint mechanism of the market, and timely stabilize market expectations. The capital market risk is generally converged and basically controllable. In recent years, it has also undergone various international and domestic super -expected impacts. The main indexes have been steadily rising, and the healthy development trend has continued to consolidate. At the same time, the six major structural changes in the capital market have significantly changed significantly. According to Li Chao: First, the multi -level market system is increasingly perfect, and the characteristics of various markets and sectors are more prominent. At the same time, venture capital and private equity investment funds also play an increasingly important role in the entire capital market. Second, the structure of the listed company has changed significantly, and the quality has been significantly changed; the third is that the effect of the survival of the market's survival of the fittest has accelerated, and the benign ecological acceleration of "there is advanced, able to enter, and can go out." Fourth, the structure of investors is gradually optimized. Professional institutional investors have continued to grow. Fifth, the product supply architecture has also changed and richer. Sixth, the guidance of worshiping the law and punishing evil continues to strengthen. The capital market has special advantages in supporting scientific and technological innovation. In this regard, Li Chao said that from the perspective of comprehensively supporting scientific and technological innovation to better play the special functions of the capital market. At present, the effect is relatively obvious. From the perspective of financing, the number of science and technology boards and GEM IPO companies in the past two years exceeded 70%of the domestic market, and private equity funds have invested in the unlisted company's equity of more than 10 trillion yuan, of which a considerable proportion is to invest in the field of scientific and technological innovation. The capital market supports scientific and technological innovation, which is not only reflected in financing, but also in the incentive mechanism effect. The capital market provides a unique, diverse and effective incentive mechanism for scientific and technological innovation enterprises. The demonstration and gathering effects have been gradually formed. A number of scientific and technological and market -recognized scientific and technological innovation companies have successively landed on the capital market. Regarding the opening of the capital market, Li Chao said that in recent years, the market is open and the institutional access is open, and positive progress has been made. In terms of institutional access, the proportion of foreign investment in 2018 will be relaxed to 51%, and it has been completely released in 2020. As of now, there are 48 public funds participating in and holding foreign companies, 45 of which are joint ventures, and 3 are wholly foreign -owned nature. Public fund companies invested in foreign -invested public funds have become a very important part of my country's public fund industry. Foreign Exchange Bureau: Five major achievements in the reform and development of foreign exchange fields have achieved five major aspects. "Since the 18th National Congress of the Communist Party of China, the Chinese economy has achieved higher quality development and higher levels of opening up, and the reform and development of foreign exchange fields has achieved significant results." Wang Chunying said Essence From the perspective of specific results, Wang Chunying talked about five aspects: First, the international revenue and expenditure was basically balanced and more stable, which reflected the positive progress of accelerating the construction of a new development pattern in my country. Wang Chunying said that the economic development of China's domestic and foreign countries is more balanced, and the ratio of the frequent account surplus to the GDP has remained in a reasonable range. Cross -border trade and investment and financing are more active, the scale of cross -border revenue and expenditure has increased rapidly, and the elasticity of the RMB exchange rate has increased, which has better played the role of automatic stabilizer to regulate international revenue and expenditure. Second, the opening of capital projects is steadily advanced, and the level of exchanges has been achieved. Wang Chunying said that direct investment has achieved basically exchanges. Cross -border financing is independently carried out by market entities under the framework of macro -prudential management. Cross -border securities investment realizes multi -channel and multi -level two -way opening. The attraction of RMB assets has been significantly enhanced. Overseas investors have invested in China to invest more than $ 2 trillion, and the weight of the RMB in the International Monetary Fund's special withdrawal rights and currency baskets has further increased. Data from the press conference further showed that at the end of 2021, foreign investors invested US $ 2155.4 billion in my country's securities, an increase of 3.0 times over 2012. As of the end of May 2022, overseas investors held 3252.9 billion yuan in domestic listed stocks, an increase of 3.9 times over the end of 2014; 5.0%of the total market value of A -share circulation, an increase of 2.9 percentage points from the end of 2014. During the same period, overseas investors held 3783.1 billion yuan in domestic bonds, an increase of 4.6 times from 2014; accounting for 2.8%of the total bond market in my country, an increase of 0.9 percentage points from the end of 2014. The third is that cross -border trade and investment and financing are more convenient, and the results of the reform of "decentralization of service" have achieved remarkable results.

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