China News Service, July 21. On the 21st, the State Council Information Office held a press conference on the operation and development of the banking and insurance industry in the first half of 2022. Liu Zhongrui, head of the statistical information and risk monitoring department of the China Banking and Insurance Regulatory Commission, said when answering a reporter's question that the dismantling High-risk "shadow banking" has been the focus of the CBIRC's work in recent years.

In the next step, the China Banking and Insurance Regulatory Commission will continue to strictly prevent the rebound of "shadow banking" of quasi-credit credit.

　　It was introduced at the meeting that due to factors such as the structure of the financial system, the degree of financial deepening and the orientation of regulatory policies, my country's high-risk "shadow banking" presents different characteristics from other economies in the world.

It is mainly reflected in quasi-credit. The essence of quasi-credit "shadow banking" is loans, but it is not regulated as loans, and the transparency is low. The operation of capital pools is the biggest hidden risk of "shadow banking".

In this regard, the China Banking and Insurance Regulatory Commission has actively taken measures to

resolutely clean up the phenomenon of deviating from the real to the virtual, arbitrarily adding leverage, and regulatory arbitrage in the name of financial innovation

, making up for the shortcomings of the regulatory system, taking serious accountability for violations of laws and regulations, and vigorously suppressing The scale of credit "shadow banking".

Through unremitting efforts, the scale of China's quasi-credit "shadow banking" has dropped by more than 25 trillion yuan from the historical peak, and the momentum of brutal expansion has been curbed

.

By the end of June, interbank wealth management had dropped from over 6 trillion yuan at the peak to around 10 billion yuan.

Trust loans decreased by 0.39 trillion yuan from the beginning of the year, and interbank investment in special-purpose vehicles maintained a downward trend.

The progress of these work has been highly appraised by market institutions, and some international organizations believe that China's determination to reduce "shadow banking risks" has exceeded expectations, which has fundamentally maintained the stability of the financial system.

　　Liu Zhongrui said that at the same time, we also fully realized that we must maintain sufficient sobriety.

Affected by the complex situation at home and abroad, the downward pressure on the economy has gradually been reflected in the financial sector, showing the characteristics of the interweaving of old and new problems.

Some financial products have complex structures, high levels of leverage, and hidden financial risks are still relatively large.

High-risk "shadow banking" may also make a comeback under the banner of so-called "innovation"

.

　　Liu Zhongrui said that in the

next step, the China Banking and Insurance Regulatory Commission will continue to strictly prevent the rebound of "shadow banking" of quasi-credit, and strictly prohibit multi-layered nested investment, idling of funds, deviating from real to false, and pseudo-financial innovation

. Institutional and product regulatory standards, and establish standards for "shadow banking" risk classification, risk weighting, and capital provisioning.

(Zhongxin Finance)