Sino-Singapore Jingwei Client October 30th. On the 30th, the "New Vision, New Economy and New Journey-The First Summit of China Bond Capital Market Forty Forum" co-sponsored by Sino-Singapore Jingwei and China Bond Capital Market Forty Forum "Held in Beijing.
Chen Yuan, Vice Chairman of the 12th National Committee of the Chinese People's Political Consultative Conference, gave a video speech entitled "Technology and Capital".
Chen Yuan, Vice Chairman of the 12th National Committee of the Chinese People's Political Consultative Conference, gave a video speech entitled "Technology and Capital".
"At present, China's economy is moving from a stage of rapid growth to a stage of high-quality development. It is in a critical period of transformation and upgrading, and kinetic energy conversion." Chen Yuan pointed out that we need to have a deeper understanding and understanding of finance than ever before. Under the situation of profound changes in the environment, how to improve the capabilities of financial services and the real economy, and promote economic development to achieve quality benefits and dynamic changes are important issues that urgently need to be answered.
Chen Yuan introduced that more than 400 years ago, the world's earliest stock exchange was established in Amsterdam, and credit and capital, as important forces driving world development, embarked on the stage of history.
Review the history since the Industrial Revolution.
We can see that behind the competition between countries is the competition of scientific and technological strength, and the fundamental is the competition of institutional strength. Building an efficient and resilient financial system is not only an important part of the modernization of the national governance system, but also construction. A technological power is an inevitable requirement for winning the initiative in international competition.
As an important part of the financial system, the capital market, including the bond market, plays a pivotal role in resource allocation, policy transmission, risk prevention, and guidance of expectations.
"For more than 40 years of reform and opening up, especially since the resumption of the issuance of treasury bonds in 1981, China's bond market has continued to grow and the market size has exceeded 100 trillion yuan, becoming the world's second largest bond market. At the same time, China's bond market mechanism has been continuously improved. , Presenting the distinctive features of diversification of issuers, marketization of issuance methods, and diversification of issuance maturity, which satisfies the needs of different investment and financing entities, and significantly enhances the ability to support the real economy, which contributes to the establishment and improvement of the socialist market economy system Played an important role." Chen Yuan said.
Chen Yuan also pointed out that my country’s bond market still has some shortcomings in terms of basic systems, market structure, innovation capabilities, and market supervision, which restrict the role of serving the real economy. It also faces many macro and micro issues that need to be resolved.
Since the 18th National Congress of the Communist Party of China, General Secretary Xi Jinping has issued a series of important instructions to the capital market, and profoundly answered the major issues of what kind of capital market is needed in the new era and how to build the capital market.
Chen Yuan stated that from the report of the 19th National Congress of the Communist Party of China, “increasing the proportion of direct financing and promoting the healthy development of multi-level capital markets”, to December 2018, the Central Economic Work Conference proposed: “Through deepening reforms, create a standardized, transparent, and open , Vigorous and resilient capital market”, and then to the 13th collective study of the Political Bureau of the Central Committee, the decision-making deployment of “financial supply-side structural reform”.
These important statements not only affirm the important role of the capital market, but also point out the direction for the reform and development of the capital market, and provide a fundamental follow for doing financial work well.
Looking back on his financial work and practice, Chen Yuan said frankly that he was fortunate to witness the development of China’s bond market as a witness. China Development Bank began market-oriented development financing in September 1998. Through the reform of the market financing system, the government’s credit and market power have been combined. Combine organically, give play to the advantages of medium and long-term investment and financing, and make positive contributions to economic and social development.
Practice has proved that to fulfill the mission and responsibilities entrusted by the times, we must adhere to the party's leadership over the financial industry, obey the laws of the market, and do a solid job in serving the real economy, preventing and controlling financial risks, and deepening financial reforms.
Chen Yuan finally said that he believes that the establishment of the Forty People's Forum in China's Bond Capital Market can make a positive contribution to the construction of China's multi-level capital market and even the development of the global capital market.
(Zhongxin Jingwei APP)