Promoting high-quality financial development
Finance is the core of the modern economy and an important core competitiveness of the country. Only by continuously deepening financial reform and promoting high-quality financial development can we provide strong financial support and financial guarantees for China's modernization.
Adhere to the leadership of the Party and stand firmly on the side of the people——
The key to upholding the centralized and unified leadership of the CPC Central Committee over financial work is to firmly safeguard General Secretary Xi Jinping's core position in the CPC Central Committee and the entire Party. We must deeply understand the decisive significance of the "two establishments", strengthen the "four consciousnesses", strengthen the "four confidences", and achieve the "two safeguards".
We must deeply understand that the leadership of the Party is the most essential feature of the path of financial development with Chinese characteristics, and is the greatest political and institutional advantage of financial development. At present, we must deeply understand and fully implement General Secretary Xi Jinping’s important expositions on comprehensively deepening reform and financial work, implement the spirit of the Third Plenary Session of the 20th CPC Central Committee and the decisions and arrangements of the Central Financial Work Conference, and unswervingly follow the path of financial development with Chinese characteristics.
To promote China-style modernization, the task of financial reform is arduous. Banking and financial institutions must truly improve their political stance, keep in mind the "big things of the country", strengthen their mission, and help build a strong country with high-quality financial development. This is an important political task at present and in the future, and it is also an important yardstick for testing political loyalty and political ability.
To unswervingly follow the path of financial development with Chinese characteristics, we must do so under the strong leadership of the Party. At the same time, we must take people-centeredness as the starting point and end point of our work and deeply grasp the political and people-oriented nature of financial work.
Strengthening the centralized and unified leadership of the Party Central Committee over financial work is the fundamental guarantee for doing a good job in financial work. We must persist in using Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era to educate people, constantly enhance political judgment, political understanding, and political execution, guide Party members and cadres to persist in looking at business from a political perspective, balance functionality and profitability, give priority to functionality, and resolutely break the "exceptionalism", "specialism", and "eliteism".
The financial undertakings led by our Party are, in the final analysis, for the benefit of the people. To unswervingly follow the path of financial development with Chinese characteristics, we must closely follow the people's demand for a better life, focus on improving the quality and efficiency of financial services, focus on key directions such as product and service richness, reach, service efficiency, and consumer rights protection, coordinate product innovation, process optimization, and scenario integration, launch more measures to benefit the people's livelihood and warm their hearts, promote the "increase, expansion, quality improvement, and cost reduction" of inclusive finance, and continue to seek practical results in improving the diversity, inclusiveness, and accessibility of financial services, so that the people's sense of gain, happiness, and security will be more substantial, more secure, and more sustainable.
Adhere to serving the real economy and do a good job in "five major articles"——
Financial services for the high-quality development of the real economy should be based on both scale and structure; both the present and the long term. We should continue to optimize the structure around major national strategies, key areas and weak links, deepen the structural reform of the financial supply side, further smooth the channels for funds to enter the real economy, and lay a solid foundation and strengthen advantages in the process of serving and meeting the diversified financial needs of the real economy.
"Doing a good job in the five major areas of science and technology finance, green finance, inclusive finance, pension finance, and digital finance" is the political responsibility of the financial industry to implement the decisions and arrangements of the CPC Central Committee. For banking and financial institutions, it is especially important to start from the details, insist on taking practical measures and achieving practical results, turn the "planning map" into a "construction map", and truly serve as the executors and doers of the CPC Central Committee's decisions and arrangements.
In terms of technology finance, we should actively explore and develop exclusive financial products to provide technology-based enterprises with full-life cycle financial services. For example, based on the needs of technology companies, we should gradually transform from a loan-based service model to a comprehensive and all-round financial service model of "on-balance sheet and off-balance sheet", "commercial bank and investment bank", "debt and equity", and "financing and intelligence".
In terms of green finance, we should accelerate the construction of sustainable business models, improve green finance management mechanisms, and build green finance brands. For example, we should increase support for key areas and major projects such as green infrastructure, technological innovation in low-carbon fields, energy conservation and carbon reduction in industries, and efficient use of clean energy, to help build the Beautiful China Pilot Zone and the green "Belt and Road" initiative.
In terms of inclusive finance, we should focus on weak links and upgrade from "whether there is" to "whether it is good or not". For example, we should focus on key groups such as individual business owners, private small and micro enterprises, and new citizens, implement policies that benefit enterprises and people, improve the adaptability of financial products and services, and promote inclusive finance to cover a wider range and make it more accessible.
In terms of pension finance, the key to solving the problem lies in improving the pension finance system that adapts to the development requirements of an aging society. For example, we should plan to build a closed loop of pension financial services covering "wealth, health, medical care, and longevity" from a high starting point, continuously enrich the supply of savings, wealth management, insurance, funds and other products with pension attributes, and promote the transition from "savings pension" to "investment pension".
In terms of digital finance, efforts should be made to build the core driving force of digital finance, serve the real economy, and improve the quality and efficiency of digital business management. For example, we should focus on serving new formats, cultivating new drivers, expanding the scene ecology, and improving the availability and convenience of financial services; enriching management methods, integrating business processes, helping internal management reduce burdens and increase efficiency, and enabling optimization and improvement of business decisions.
Adhere to the overall coordination of development and security, and keep the bottom line of no systemic risks.
Preventing and defusing financial risks is related to national security, overall development, and the safety of people's property. It is a major hurdle that must be overcome to achieve high-quality development. Effectively preventing and controlling financial risks is a powerful measure to safeguard national security and is an integral part of building a financial power.
Under the new situation, banking and financial institutions should find their own position in promoting high-quality development, grasp and implement the strategic priorities of financial service development, prevent systemic financial risks, and do a solid job in various financial work. We should establish a correct view of business, development and risk, adhere to the general tone of seeking progress while maintaining stability, grasp the relationship between development and security, short-term and long-term, not covet short-term interests, not be impatient and reckless, and not take excessive risks beyond our ability to bear.
At the same time, we should enhance our awareness of potential dangers, adhere to the bottom line and limit thinking, shoulder the political responsibility of preventing and defusing risks, further consolidate the responsibilities of all aspects and links, make the prevention and control of credit risks in key areas a top priority, and consciously serve as the ballast stone for maintaining financial stability. In particular, we should improve the risk preference system that matches the business strategy and conforms to the bank's own reality, improve the risk preference transmission mechanism that is feasible and effectively implemented, and enhance the level of modernization of the risk governance system and governance capabilities, so as to ensure high-quality development with high-quality risk management.
In the real estate sector, we must fully implement relevant national policies, meet the reasonable financing needs of real estate companies of different ownership structures equally, and support the accelerated construction of a new model for real estate development. At the same time, we must implement the urban real estate financing coordination mechanism and the requirements of the "guaranteed delivery of housing" battle, and strictly adhere to the bottom line of compliance.
In terms of local debt resolution, we must strictly implement the national series of policies and the latest requirements of relevant ministries and commissions, strengthen organizational leadership, consolidate responsibilities, find out the bottom line, and increase work efforts. At the same time, we must strictly enforce various work disciplines for debt risk resolution, strictly prohibit supporting debt evasion or false debt reduction, and never increase local government hidden debts and local financing platform debts in violation of regulations.
We must also clearly realize that missing development opportunities is also a risk, and not developing is the biggest risk. We must transform the pressure of accountability into a driving force for preventing risks and promoting development, rely on promoting high-quality development to solve outstanding contradictions and problems in the process of progress, and fundamentally prevent and resolve various risks. We must face up to new situations and new problems encountered in the development process, grasp the relationship between power and responsibility, speed and stability, prevention and elimination, improve the ability to foresee, respond and deal with risks, ensure that "there are both preemptive moves to prevent risks and key moves to respond and resolve them", "prevent and control traditional risks, and pay attention to non-traditional risks", and resolutely defend the bottom line of no systemic financial risks.
