China ’s ten years · series of theme press release ｜ Financial reform and opening up shows a new situation that has strongly promoted the high -quality economic development-“ China ’s Ten Years” series theme press conference Focus on the reform and development of the financial field

Xinhua News Agency, Beijing, June 23rd: Financial reform and opening up showed a new situation to strongly promote high -quality economic development- "China Ten Years" series theme press conference Focus on the reform and development of the financial field

Xinhua News Agency reporters Wu Yu, Li Yanxia, ​​Liu Kaixiong

From 2012 to 2021, the average annual increase of RMB loans in my country increased by 13.3%; the pilot registration system was steadily promoted; the restrictions on foreign -invested stock ratio in the fields of banks, securities and other fields; prevention and resolution of major financial risks achieved important stages of results ...

Since the 18th National Congress of the Communist Party of China, my country has continued to deepen the structural reform of financial supply side, steadily expand financial opening up, coordinate development and security, and effectively promote high -quality economic development.

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" on the 23rd to focus on the reform and development of the financial sector since the 18th National Congress of the Communist Party of China.

Financial supports the real economy to achieve high -quality development

In the past ten years, the virtuous cycle of finance and the real economy has gradually formed-

From 2012 to 2021, the average annual growth rate of bank loans and bond investment was 13.1%and 14.7%, respectively, which basically matched the growth rate of nominal GDP. ; Agricultural Insurance provides risk protection for farmers from 1.9 trillion yuan in 2012 to 4.4 trillion yuan in 2021 ...

In the past ten years, finance supports key areas and weak links in the development of the national economy-

As of the end of April, the balance of loans of small and micro enterprises across the country was 3.8 trillion yuan, which was 3.35 times the end of 2012. The previous increase has been increased by nearly 7 times; the "hard technology" industrial agglomeration effect of the science and technology board is initially formed; the balance of green loans and green bonds is at the forefront of the world ...

In the past ten years, the breadth of serving the real economy has expanded significantly ——

The new three boards and science and technology boards were launched, and the Beijing Stock Exchange was established. The capital market has greatly enhanced the adaptability of the real economy, and the cumulative stock bond financing has reached 55 trillion yuan. Futures options cover the main fields of the national economy; as of the end of April, a total of 1.78 trillion yuan of special financial bonds for small and micro enterprises have been issued ...

"In the past ten years, we have led financial support for the real economy to achieve high -quality development with new development concepts." Chen Yulu, deputy governor of the People's Bank of China, said that the People's Bank of China insisted on controlling the total currency gate and did not engage in "big water." Since 2012, the average annual growth rate of the broader 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.

In the past five years, the average annual growth rate of the total assets of the banking and insurance industry was 8.1%and 11.4%, respectively, which was lower than the annual growth rate of credit investment and bond investment in the same period. In the opinion of Xiao Yuan, vice chairman of the China Banking Regulatory Commission, through activities such as cleaning out of reality, chaos and leverage, and cooking with money, the funds have been fundamentally reversed, and the flow of funds has increased significantly. The cost of financing has also declined.

my country's financial reform and opening up goes further

Continue to improve the governance of financial institutions, the third pillar pension insurance reform pilot has made significant progress, steadily promotes the pilot registration system, promotes the reform of the loan market quotation interest rate (LPR), and starts the Shanghai -Shenzhen -Hong Kong Stock Connect and Shanghai -London. Deepen the structural reform of the financial supply side, steadily expand financial opening, and the financial reform and opening up present a new situation.

"Reform and opening up is the only way for financial modernization." Chen Yulu said that since the 18th National Congress of the Communist Party of China, the achievements of China's financial reform and opening up have significantly supported the high -quality development and modernization process of the national economy.

Li Chao, vice chairman of the China Securities Regulatory Commission, said that around deepening the structural reform of the financial supply side and 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 been systematized.

With my country's further expanding financial opening up, the attractiveness of the financial market has increased day by day, and RMB assets are welcomed by international investors.

On the one hand, a large number of international financial institutions actively participate in the development of China's financial market. According to Xiao Yuan Enterprise, in 2021, the capital and assets of foreign banks in China increased by more than 50%over ten years ago, and the capital of China Foreign Insurance Corporation increased by 1.3 times in ten years, and assets increased by 6 times.

On the other hand, the open channels that are continuously expanded have attracted a large number of international medium and long -term investors to accelerate the allocation of RMB assets. According to data from the Foreign Exchange Bureau, at the end of 2021, foreign investors invested US $ 2155.4 billion in my country's securities, an increase of three times from the end of 2012.

In addition, the channels for domestic residents to allocate overseas assets have been further expanded. At the end of 2021, my country ’s foreign securities investment was 979.7 billion US dollars, an increase of three times from the end of 2012.

"Cross -border securities investment channels have further expanded, and the convenience of convenience has been further increased. Domestic stocks and bonds have gradually included in the international mainstream index. The scale of cross -border investment and financing transactions has increased. Essence

Prevent and resolve major financial risks to achieve important results

The scale of high -risk shadow banks has dropped by about 25 trillion yuan compared with historical peak voltage, and the cumulative digestive non -performing assets in the past ten years have 16 trillion yuan, recovery and dispose of more than 600 high -risk small and medium -sized financial institutions ... In the past ten years, my country's overall financial development and security The prevention and resolution of major financial risks has achieved important stages of results. The overall convergence of financial risks and overall controllable. In the past ten years, the financial sector has handled a number of prominent risk points. "We always adhere to rational thinking and bottom -line thinking, and resolve risks in key institutions, key links, key business areas, and key areas." Xiao Yuan Enterprise said that the infectious and overflowing properties of the risk points have been significantly contracted. The momentum has been reversed, and the social financial order basically achieves "from chaos to governance" to prevent the gradual consolidation of the long -term mechanism of financial risks.

In the past ten years, the healthy development of the capital market has continued to consolidate. Li Chao said that through reform and improvement of supervision and governance efficiency, improve the stability and external restraint mechanism of the market, and timely stabilize the market expectations. In recent years, the capital market has suffered from various international and domestic super -expected impacts. Convergence and basically controllable.

Foreign exchange reserve is an important "stabilizer" and "cockpit stone" for maintaining national economic and financial security. In recent years, the scale of foreign exchange reserves in my country has remained above US $ 3 trillion. At the end of May this year, it exceeded 3.1 trillion US dollars, ranking first in the world for 17 consecutive years. "The toughness of the foreign exchange market has continued to increase, successfully cope with multiple rounds of external shocks, the scale of cross -border transactions has been significantly improved, foreign exchange reserves are generally stable, and the RMB exchange rate has remained basically stable at a reasonable balance." Wang Chunying said.

In recent years, the risks of small and medium -sized banks have attracted much attention. According to Xiao Yuanqi, in general, small and medium banks run smoothly and develop healthy. "Although there are still some problems, especially the risks of individual institutions are relatively high, and some are suspected of illegal crimes, in general, risks are completely controllable, and the legitimate rights and interests of financial consumers are protected according to law."

Chen Yulu said that it is necessary to build a regulatory system that requires a high level of opening up with the financial level, improve the professionalism and effectiveness of financial supervision, build various "firewalls", and resolutely keep the bottom line that does not occur without systemic financial risks.

- END -