Chinanews.com, Beijing, October 27th (Zhongxin Finance and Economics reporter Li Jinlei) Recently, the central bank, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the Ministry of Finance and other departments held meetings respectively to convey the spirit of learning from the 20th National Congress of the Communist Party of China.

The meeting released some specific information and conveyed economic signals, which deserves attention.

Data map: A view of the city.

Photo by Yuan Rujing

Intensify efforts to promote "guaranteed handover"

　　On October 24, the Party Committee of the People's Bank of China and the Party Group of the State Administration of Foreign Exchange held an enlarged meeting, calling for "

strengthening departmental collaboration and maintaining the healthy development of the stock market, bond market and property market

", and also mentioned "to

better meet the rigid and improved housing needs of residents. Intensify efforts to boost the work of 'guaranteeing the delivery of buildings and stabilizing people's livelihood'

".

　　The latest data from the National Bureau of Statistics shows that in the first three quarters, the sales area of ​​commercial housing across the country fell by 22.2% year-on-year, and the sales of commercial housing fell by 26.3%.

In September, among the 70 large and medium-sized cities, the number of cities where the sales price of commercial housing fell, and the number of cities increased, and the sales price of commercial housing in all tier cities decreased or remained flat month-on-month.

　　Chen Wenjing, the market research director of the Index Division of the China Index Research Institute, believes that it is expected that the follow-up measures for the suspension of construction projects will be implemented continuously, and more substantial progress is expected to be achieved in the work of "guaranteing the delivery of buildings".

The RMB exchange rate is basically stable and has a solid foundation

　　Recently, fluctuations in the RMB exchange rate have attracted attention.

The People's Bank of China and the State Administration of Foreign Exchange stated that at present, the potential growth rate of China's economy remains at a relatively high level, the factors and conditions for building a new development pattern are relatively sufficient, the recovery momentum of effective demand is becoming more and more obvious, the price level is basically stable, and the

trade surplus is expected to remain high .

, the RMB exchange rate remains basically stable and has a solid foundation.

　　On October 24, the China Banking and Insurance Regulatory Commission held a party committee (expanded) meeting.

The meeting emphasized that the

long-term strengthening trend of the RMB will not change

. China's continuous balance of payments surplus and huge net foreign investment assets provide a strong guarantee for the stability of the RMB exchange rate.

　　On October 25, the People's Bank of China and the State Administration of Foreign Exchange decided to increase the macro-prudential adjustment parameter for cross-border financing of enterprises and financial institutions from 1 to 1.25.

　　Wen Bin, chief economist of China Minsheng Bank, believes that while facilitating cross-border financing of domestic institutions, this move will also help overseas capital inflows, increase domestic dollar liquidity, stabilize market expectations, and maintain the basic RMB exchange rate at a reasonable and balanced level. Stablize.

It is expected that the RMB will remain under pressure, but the sound domestic fundamentals and abundant regulatory tools will help the foreign exchange market run smoothly, with limited room for depreciation.

Data map: RMB.

Photo by Liu Yanghe

Speed ​​up the construction of a modern capital market with Chinese characteristics

　　Recently, the capital market has fluctuated.

At the meeting of relevant departments, the capital market was also mentioned.

　　The China Banking and Insurance Regulatory Commission stated that under the background of innovative development and steady transformation of the real economy, the

capital market has long-term investment value and the sound foundation for maintaining stable operation will not change.

　　On October 24, the China Securities Regulatory Commission held a party committee (expanded) meeting.

The meeting called for adhering to the purpose of financial services for the real economy, comprehensively deepening reforms, improving the multi-level market system, improving the functions of the capital market, and increasing the proportion of direct financing.

It is necessary to adhere to the combination of the general laws of the capital market with the reality of the Chinese market, and the excellent traditional Chinese culture, and accelerate the construction of a modern capital market with Chinese characteristics.

　　Wen Bin predicts that under the dislocation of internal and external economic cycles, A-shares may be in a shock pattern of bottoming out and then rebounding in the fourth quarter, which is more valuable for allocation.

Promote common prosperity

　　The report of the 20th National Congress of the Communist Party of China pointed out that Chinese-style modernization is a modernization in which all people are prosperous.

The multi-sector meeting also talked about mutual prosperity.

　　On October 24, the party group of the National Development and Reform Commission held a meeting, emphasizing that "we must focus on solving the problems of the people's hardships and worries, improve the basic public service system, improve the distribution system, implement the employment priority strategy, and solidly promote common prosperity."

　　On October 24, the party group of the Ministry of Finance held a special meeting, emphasizing "to further improve and perfect the fiscal and taxation policies in support of employment, education, pension, medical care, social security, housing and other fields, and to promote more and more equitable benefits of the reform and development achievements to all the people. In the process of high-quality development, more obvious and substantive progress will be made in promoting common prosperity.”

　　The China Banking and Insurance Regulatory Commission emphasized that it is necessary to vigorously develop inclusive finance, strengthen financial services for "new citizens", regulate the development of the third pillar pension insurance, and actively promote common prosperity.

　　Jiang Jinquan, director of the Policy Research Office of the Central Committee of the Communist Party of China, said at a press conference on the 24th that at present, efforts should be made to stabilize the macroeconomic market and maintain a good momentum of economic development.

We must give priority to employment, continue to grow the real economy, actively support the development of small, medium and micro enterprises, strive to create more jobs and entrepreneurial opportunities, solve the employment problems of young people such as college graduates, and guide people to create a happy life with their own hands.

This is the premise for solidly promoting the common prosperity of all people.

(Finish)