BEIJING, Aug. 3 -- Risk control and serving the real economy will be the major tasks of China's financial sector in H2.
Guarding against systemic financial risk is vital to the health of the economy and so the government will do more to monitor, predict and deal with risk in a more timely manner. Serving the real economy is the soul purpose of the financial sector and the most basic protection against financial risk.
While the central bank and financial regulators have identified major problems, including pseudo-banking and illegal fund-raising, China's financial risk is felt to be generally under control.
At the end of June, commercial banks' average capital adequacy ratio stood at 13.2 percent. Liquidity coverage ratio was 124.4 percent, and the provision coverage ratio of commercial bank was 172.3 percent.
Financial risks mainly come from poor coordination between various regulators, according to Li Yang, director of National Institution for Finance and Development. To deal with this, a new cabinet committee has been given responsibility for coordinating financial development and regulation.
The committee will ensure coherence between monetary, fiscal and industrial policies, targeting weak links in supervision. Specifically, the committee will improve risk monitoring and early-warning mechanisms, coordinate risk prevention and deal with structural and systemic issues.
Problems emerging from reform of the financial sector should be solved by the committee, said Dong Dengxin of Wuhan University of Science and Technology.
Recent plans require great improvements in efficiency and quality of regulation, with more resources diverted into weak areas. Direct financing will be prioritized while indirect financing will be improved through the transformation of major state-owned banks and by making better use of smaller banks and private financial institutions.
More money was channeled into the real economy in H1. New private investment increased by 1.4 trillion yuan (about 200 billion yuan) from the same period a year ago to 11.2 trillion yuan.
Banks issued 7.97 trillion yuan of new yuan-denominated loans, 436 billion yuan more than the same period last year.
Internationalization of the yuan and increasing convertibility of the capital account should proceed at a steady pace. To that end, last month, overseas investors gained increased access to the Chinese mainland's 10 trillion U.S. dollar bond market. The bond connect platform with Hong Kong allows qualified overseas investors to trade bonds on the mainland interbank bond market, including treasury bonds, local government bonds, policy bank bonds and commercial bank bonds.
体坛英语资讯:Superstar Durant hopes to become legend with Warriors
国内英语资讯:China deepens reform on judicial, social systems
印度俩女子相爱7年 分别与丈夫离婚后结婚
体坛英语资讯:Red Star defeat Italys Brescia to secure ticket to basketball Eurocup top 16
工作经验对于跳槽的意义
国际英语资讯:Iran says to work with partners to neutralize U.S. sanctions
国内英语资讯:CPC leadership hears work reports
战略卧室、早睡奖金……为了让员工多睡觉 日本企业也是操碎了心
职业电竞选手其实是在吃青春饭
2019年CBA全明星赛首发阵容出炉
国内英语资讯:Senegal hopes to further advance cooperation with China: president
国际英语资讯:U.S. pullout from Syria must be planned carefully: Erdogan
体坛英语资讯:Red Star hammer Brescia 103-67 to enter Eurocup Top 16
国际英语资讯:German politicians voice dismay over brutal attack on German AfD politician
国内英语资讯:Chinese police to tighten security measures during Spring Festival
体坛英语资讯:Guangdong, Liaoning extend winning streaks in CBA
国际英语资讯:Trump speaks with Macron by phone over Syria
为解决食物浪费危机 英国任命首任厨余专员
国内英语资讯:Xi honors two academicians with Chinas top science award
国内英语资讯:Public security minister stresses fight against gun, explosives crime
体坛英语资讯:Man. United settle for second after defeat to Valencia, Man. City top group
天作之合!梅根即将接手第一份王室工作
天才! 美国少年同时获颁高中文凭和哈佛大学学位
The Memory of Summer Holiday 暑假记忆
娱乐英语资讯:Egypt congratulates Rami Malek on Golden Globes best actor award
国际英语资讯:UN envoy leaves Yemen after talks with rebels to push on peace process
体坛英语资讯:Gold-winning US swimmer Murphy no pressure at worlds
国际英语资讯:Driver, child killed in road collision in Finland
国内英语资讯:Information consumption new booster for Chinese economy
国内英语资讯:Chinese, Djibouti presidents exchange congratulations on 40th anniversary of ties
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |