Zhongxin Finance, May 5th. On the evening of May 4th, the central bank, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission successively announced that they had held relevant special meetings recently, and the content of the meetings involved real estate, stock market, infrastructure investment, and platform companies. Special rectification work etc.
Central Bank: Make good use of various monetary policy tools to keep liquidity reasonably sufficient
On April 29, the People's Bank of China held a special meeting to study and further implement measures such as financial support for economic operation to maintain a reasonable range, and promotion of the standardized and healthy development of the platform economy.
The meeting proposed that it is necessary to accelerate the precise implementation of various policy measures that have been determined, make good use of various monetary policy tools, maintain reasonably sufficient liquidity, and guide financial institutions to better meet the financing needs of the real economy.
Optimize financial services, support the release of consumption potential, and promote the continuous recovery of consumption.
Promote the increase in the amount of financing, the expansion of the scope, and the price reduction for small and micro enterprises, support the relief of difficult industries such as foreign trade, service industry, and civil aviation, and increase financial support for technological innovation, specialization, specialization, and new enterprises.
Efforts will be made to improve the development level of supply chain finance, support the production and supply of food and energy, ensure smooth logistics and promote the stability of industrial and supply chains.
We must promptly plan incremental policy tools to support stable growth, employment, and prices
, and create a sound monetary and financial environment for coordinating epidemic prevention and control and economic and social development.
Photo by Jiang Qiming, reporter from China News Agency of the People's Bank of China
The meeting emphasized that it is necessary to scientifically study and judge the international and domestic situation, accurately grasp the key areas and key objects that may bring systemic financial risks, further effectively manage and control financial risks, and resolutely maintain the bottom line of no systemic financial risks.
Support the smooth operation of the capital market.
Implement the prudent management system for real estate finance, optimize real estate credit policies in a timely manner, keep real estate financing stable and orderly, and support rigid and improved housing demand
.
The meeting proposed to summarize experience, grasp the rules, explore and innovate, comprehensively improve the efficiency of capital governance, and
promote the completion of the special rectification of the financial business of platform enterprises
.
It is necessary to implement normalized financial supervision on the financial activities of platform enterprises to promote the standardized and healthy development of the platform economy.
China Banking and Insurance Regulatory Commission: Do not blindly withdraw, cut off, or suppress loans, and keep real estate financing stable and orderly
Recently, the China Banking and Insurance Regulatory Commission held a special meeting. The meeting emphasized that it is necessary to promptly implement various financial policies that have been determined, and scientifically use various financial resources such as credit, bonds, equity, and insurance to increase and improve financial supply.
Encourage large banks and other high-quality listed banks with relatively high provision levels to reduce provision coverage ratios in an orderly manner and release more credit resources.
Strengthen financial services for "new citizens" and support the financial needs of "new citizens" in urban entrepreneurship and employment, housing purchase and housing, education and training, medical care and elderly care.
Support to play the key role of effective investment, ensure the financing of key areas and major projects in the 14th Five-Year Plan, and support moderately advanced infrastructure investment.
Guide financial institutions to accurately grasp credit policies, strengthen financing support for industries, small, medium and micro enterprises and individual industrial and commercial households severely affected by the epidemic, improve financing convenience, and reduce comprehensive financing costs.
Data map: A bank staff counts the currency.
Photo by China News Agency reporter Zhang Yun
Fully support the work of ensuring the smooth flow of freight and logistics, and open up green channels for transportation and logistics enterprises that undertake heavy tasks of epidemic prevention and control and emergency transportation.
We will do a solid job of financial support to ensure supply and price of energy resources, help stabilize the industrial chain and supply chain, fight the epidemic and ensure the supply of enterprises, and the normal operation of key infrastructure.
The meeting pointed out that it is necessary to urge banking and insurance institutions to adhere to the positioning of "houses are for living, not for speculation",
implement differentiated housing credit policies according to city-specific policies, support the demand for first and improved housing
, and flexibly adjust those affected by the epidemic. Crowd personal housing loan repayment plan.
It is necessary to distinguish between project risks and enterprise group risks,
do not blindly withdraw, cut off, or suppress loans, and maintain stable and orderly real estate financing
.
In accordance with the principles of marketization and the rule of law, financial services for mergers and acquisitions of key real estate enterprises' risk disposal projects shall be done well.
It is necessary to give full play to the advantages of long-term investment of insurance funds, solve the problem of "long money and short allocation" in a targeted manner, and further reduce the proportion of non-standard assets.
Establish and improve the long-term assessment mechanism of insurance funds,
enrich the channels for insurance funds to participate in capital market investment, encourage insurance asset management companies to increase the issuance of portfolio insurance asset management products
, and
guide insurance institutions to allocate more funds to equity assets
.
To
complete the special rectification work for large-scale platform enterprises, red and green lights must be set up, and normalized supervision should be implemented to
support the standardized and healthy development of the platform economy.
It is necessary to study and improve relevant laws and regulations and institutional arrangements, further enrich the financial stability guarantee fund, give full play to the positive role of insurance guarantee funds and trust industry guarantee funds in risk disposal, and build a dense financial safety net.
China Securities Regulatory Commission: Scientifically and reasonably grasp the normalization of IPOs and refinancing, and support bond financing for real estate companies
Recently, the China Securities Regulatory Commission held a special meeting to study relevant work measures to deepen the reform of the capital market, maintain the stable operation of the capital market, and help stabilize the macroeconomic market.
The meeting held that the Party Central Committee clearly required that "the epidemic must be prevented, the economy must be stabilized, and the development must be safe." The CSRC should unify its thoughts and actions into the Party Central Committee's important judgments on the situation and the decisions and deployments it made, and always keep in mind the "national interests". "The big ones", in light of the actual situation of the capital market, study and implement well, coordinate stable growth and prevent risks, strengthen confidence, overcome difficulties, and ensure the implementation of the Party Central Committee's major policies and policies.
The first is to make greater efforts to help stabilize the macroeconomic market.
Scientifically and rationally grasp the normalization of IPO and refinancing
, enrich the bond financing tools and varieties such as corporate bonds for technological innovation and SME credit enhancement collective bonds,
actively support bond financing of real estate enterprises
, study and expand the scope of pilot REITs for infrastructure, and introduce more supporting entities in due course Policy measures for enterprise development.
The second is to steadily push forward the comprehensive and deepening reform of the capital market.
Steadily promote the reform of the registration system for stock issuance, launch market-making transactions on the Science and Technology Innovation Board, enrich market risk management tools such as futures options,
accelerate the pace of investment-side reform, actively introduce long-term investors
, and further leverage the role of institutional investors to stimulate market vitality.
The third is to steadily expand the institutional opening of the capital market.
Expand the scope of interconnection between domestic and foreign markets, deepen the cooperation between the mainland and Hong Kong capital markets, and
promote the implementation of the supervision system for overseas listing of domestic enterprises
.
The fourth is to unremittingly pay close attention to the prevention and control of capital market risks.
Adhere to supervision and supervision, strengthen cross-border and cross-market risk pre-research and pre-judgment, improve the accountability system for capital market risk prevention, early warning, and disposal, orderly resolve risks in key areas, and firmly hold the bottom line of no systemic risks.
Data map: China Securities Regulatory Commission.
Photo by China News Agency reporter Zhang Hao
On the 5th, the first trading day after the "May Day" holiday, the three major A-share indexes collectively opened lower, and then the Shanghai Composite Index and the Shenzhen Component Index turned red.
As of the close at noon, the Shanghai Composite Index and the Shenzhen Composite Index rose more than 1%, and a total of 3,890 stocks in the two cities rose.
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