China News Service, November 3. On November 2, the official account of the "China Banking and Insurance Regulatory Commission" published an article entitled "Strengthening and Improving Modern Financial Supervision" by Guo Shuqing, Secretary of the Party Committee of the People's Bank of China and Chairman of the China Banking and Insurance Regulatory Commission.

　　In the article, Guo Shuqing proposed eight key measures to strengthen and improve modern financial supervision:

　　(1) Strengthen the centralized and unified leadership of the party over financial work.

Party leadership is the greatest political advantage to do a good job in financial work.

To follow the path of financial development with Chinese characteristics, it is necessary to further strengthen the leadership of the CPC Central Committee over financial work, establish and improve the overall coordination mechanism for financial stability and development, and all relevant central departments and provincial party committees and governments must consciously obey and take the initiative.

The vast majority of financial institutions in our country are local legal persons, and their party relations, cadre management, state-owned equity supervision, audit supervision, and judicial jurisdiction are also located locally. A major risk disposal mechanism under the responsibility of the main leaders of the local party and government.

The central financial management department shall assume the main responsibility for supervision in accordance with statutory duties, and the dispatched offices shall consciously obey the leadership of the local party committee and government, actively leverage their professional advantages and perform industry management responsibilities, jointly promote the establishment of a scientific and efficient financial stability guarantee system, and make good use of risks in an open and transparent manner. dispose of funds.

It is necessary to promptly investigate and deal with the corruption behind the risks and chaos, promote strong supervision and strict supervision with strong supervision, resolutely correct the "loose and soft", and build a loyal, clean and responsible supervision iron army.

　　(2) Deepening the structural reform of the financial supply side.

We will comprehensively strengthen the ability of financial services to serve the real economy, and resolutely curb the transition from the real to the virtual.

Manage the general monetary gate to prevent the macro leverage ratio from rising rapidly.

Improve the functions of the capital market and increase the proportion of direct financing.

Improve the financial support innovation system, and increase medium and long-term financial support for advanced manufacturing and strategic emerging industries.

Improve the inclusive financial system, improve the financial supply for small and micro enterprises and "agriculture, rural areas and farmers", improve the level of financial services for new citizens, and consolidate and expand the achievements of financial poverty alleviation.

Supervise and urge small and medium-sized banks to deepen their local development and strictly regulate cross-regional operations.

Strengthen the insurance protection function, accelerate the development of health insurance, standardize the development of the third pillar pension insurance, and improve the national catastrophe insurance system.

Steadily promote the high-level opening of the financial industry, and serve to build a new development pattern of "dual circulation".

　　(3) Improve the "risk-based" prudential supervision framework.

Effectively restrain the blind expansion of financial institutions, and promote the classified and graded management of business licenses for legal entities.

Put the prevention and control of financial risks in a more important position, optimize the supervision technology, methods and processes, and realize the early identification, early warning, early detection and early disposal of risks.

Enrich the policy toolbox, improve counter-cyclical supervision and supervision of systemically important financial institutions, and prevent cross-institution, cross-market and cross-border risk contagion.

Strengthen functional supervision and comprehensive supervision, carry out penetrating supervision for homogeneous and similar financial products in accordance with the principle of "substance over form", and implement fair and unified supervision rules.

Adhere to the fact that financial innovation must be carried out under the premise of prudential supervision, implement normalized supervision of Internet platform financial business, and promote the standardized, healthy and sustainable development of the platform economy.

Strengthen financial anti-monopoly and anti-unfair competition, regulate and guide the healthy development of capital in accordance with the law, and prevent the disorderly expansion of capital in the financial sector.

　　(4) Strengthen corporate governance and internal control of financial institutions.

Grasp the "bull nose" of corporate governance, and promote the improvement of the modern financial enterprise system.

Build a "firewall" of industrial capital and financial capital, and regulate non-financial enterprises' investment in financial institutions in accordance with the law.

Strengthen the penetrating review of shareholders' qualifications and the supervision of shareholders' behavior, and strictly manage related transactions.

Strengthen the supervision of the performance of duties by the board of directors and senior management, guide financial institutions to select professional teams with strong political and business skills, and continuously strengthen the mutual support and supervision between corporate governance institutions and senior executives.

Improve the incentive and restraint mechanism, improve the improper income recovery system and risk liability ex post recovery system.

Urge financial institutions to comprehensively refine and improve their internal control systems, and strictly abide by accounting standards and prudential supervision requirements.

Strengthen external supervision, standardize information disclosure, and strengthen market discipline.

　　(5) Create a legal environment for severely cracking down on financial crimes.

Following the purpose of the Constitution and the spirit of legislation, the role of the rule of law in consolidating fundamentals, stabilizing expectations and benefiting the long-term will be better played.

Adhere to the rules of licensed operation of financial business, not only to correct "license violations", but also to crack down on "unlicensed driving".

Weave a dense financial legal network, make up for the shortcomings of the system, and effectively solve the problem of "the bullpen shuts the cat".

Enrich law enforcement means, give full play to the advantages of financial regulatory agencies and public security organs, do a good job in the connection between administrative law enforcement and criminal justice, and strengthen cooperation with discipline inspection and supervision, audit supervision and other departments.

Increase the cost of violations, and strive to achieve both procedural justice and substantive justice in accordance with the principle of equal punishment.

Maintain a high-pressure situation of administrative punishment, and regularly carry out work to crack down on malicious evasion of debt, illegal fundraising, illegal absorption of public deposits, anti-money laundering, and anti-terrorist financing.

Provincial local governments are generally responsible for preventing and disposing of illegal fundraising within their respective jurisdictions.

　　(6) Effectively safeguard the legitimate rights and interests of financial consumers.

Explore the establishment of a coordination mechanism between the central government and local governments, and promote financial institutions to incorporate consumer protection into corporate governance, corporate culture and business strategies.

Strictly regulate the management of financial product sales, strengthen risk warnings and information disclosure, and vigorously rectify problems such as false propaganda, misleading sales, and overlord clauses.

Promote and improve the diversified resolution mechanism for financial disputes, and smooth the channels for handling complaints.

Strengthen financial knowledge publicity and education, guide the establishment of long-term investment, value investment, rational investment and risk prevention awareness, and continuously improve the financial literacy of the whole society.

The basic rights of financial consumers, such as independent choice, fair trade, and information security, shall be protected in accordance with the law, and the "money bag" of the general public shall be protected.

　　(7) Improve the financial safety net and the long-term mechanism for risk disposal.

Accelerate the introduction of the Financial Stability Law, clarifying the triggering standards, procedural mechanisms, funding sources and legal responsibilities for financial risk disposal.

Under the condition of strengthening the financial stability guarantee mechanism, establish a complete financial risk disposal system, and clarify the relationship between the supervisory authority and the disposal authority.

Distinguish conventional risks, sudden risks and major risks, implement the handling mechanism according to the division of responsibilities, and rationally use various handling measures and tools.

The financial stability guarantee fund, deposit insurance fund and other industry guarantee funds cannot be used as "payment boxes". It is necessary to improve their functions, strengthen the organizational system, and give full play to the role of market-based and legal-based disposal platforms.

　　(8) Accelerate the digital and intelligent transformation of financial supervision.

Actively promote the construction of the supervision big data platform, develop intelligent risk analysis tools, improve the risk early warning module, and enhance the forward-looking, penetrating and comprehensive risk monitoring.

Gradually realize the standardization and onlineization of various regulatory processes such as administrative approval, off-site supervision, on-site inspection, and administrative punishment to ensure that regulatory actions can be audited and traceable.

Improve regulatory data governance, open up information silos, and effectively protect data security.

Strengthen the construction of financial supervision infrastructure, and optimize the network structure and operation and maintenance system.

(Zhongxin Finance)