China's State Financial Regulatory Administration: The door to the opening of the financial industry will only open wider and wider

Shanghai, 6 Jun (ZXS) -- "The door to the opening up of the financial industry will only open wider and wider. Li Yunze, director of China's State Financial Regulatory Administration, said at the 8th Lujiazui Forum on the 8th.

The 50th Lujiazui Forum was held in Shanghai on the same day, Li Yunze pointed out in his speech that in recent years, the financial sector has successively introduced more than <> opening measures, canceled the restrictions on foreign capital ratio, greatly reduced the quantitative threshold for foreign capital access, and a number of open examples have landed.

"We will continue to adhere to the simultaneous development of 'bringing in' and 'going out', steadily promote the high-level opening up of the financial industry, and continue to create a market-oriented, rule-of-law and international business environment." In the fields of wealth management, green finance, pension and health, asset management, etc., foreign-funded institutions with sound operation and excellent qualifications are welcome to come to China to develop their business, and qualified foreign-funded institutions are encouraged to participate in various business pilots. Li Yunze said.

He said that the economy is the body, finance is the bloodline, and the two are symbiotic and prosperous. We will grasp the key to restoring and expanding effective demand, and continue to optimize and improve financial services. Improve foreign trade credit and export credit insurance services to help enterprises stabilize orders and expand markets. Following the pace of a new round of scientific and technological revolution, we will increase support for high-level scientific and technological self-reliance and self-improvement, and promote a virtuous cycle of "science and technology-industry-finance".

Strengthening and improving modern financial supervision is an important task in the current financial field. Li Yunze pointed out that it will focus on the whole process of Chinese-style modernization, comprehensively strengthen institutional supervision, behavioral supervision, functional supervision, penetrating supervision, and continuous supervision, and effectively improve the forward-looking, accurate, effective and collaborative nature of supervision. Resolutely eliminate regulatory gaps and blind spots, clarify responsibility boundaries, tighten the responsibility chain, strengthen comprehensive governance, improve the responsibility system with multi-subject participation, multi-field collaboration, and multi-level penetration, and truly achieve "full coverage and no exceptions" in supervision.

Preventing and resolving financial risks is the eternal theme of financial work. Li Yunze said that the recent series of risk events in the international banking industry, although the direct impact on China is small, but it also has strong warning significance. It is necessary to play the "first-hand chess" of risk forward-looking prevention and control, deal with all kinds of risks and hidden dangers with a more proactive attitude, adhere to early identification, early warning, early detection and early disposal, and strive to nip risks in the bud and block the spread of risks in a timely manner.

"We will take our own institutional reform as an opportunity to effectively transform functions, enhance efficiency, improve work style, and take up the burden of supervision." Continue to optimize the supply of systems, actively promote the 'enactment, reform and repeal' of laws and regulations, keep pace with the times and improve prudential supervision rules, resolutely control what should be managed, and liberalize in an orderly manner, and effectively promote the stable and healthy development of the financial industry. Li Yunze said. (End)