Liu He chaired the 28th meeting of the State Council Financial Stability Development Committee

  On May 4, the Financial Stability Development Committee of the State Council (hereinafter referred to as the Financial Commission) held its 28th meeting to hear progress reports on supporting economic recovery, accelerating the reform and development of small and medium-sized banks, and combating fraud in the capital market. The meeting was chaired by Liu He, member of the Political Bureau of the CPC Central Committee, vice premier of the State Council, and director of the Finance Committee. The comrades of the member units and related units of the Finance Committee participated in the meeting.

  The meeting pointed out that since the outbreak of the epidemic, the Financial Commission and member units have seriously implemented the decision-making and deployment of the Party Central Committee and the State Council, accelerated the pace of work, and strengthened the relevance of policies to "stabilize expectations, expand the total amount, classify and grasp, renew the period, create tools Policy certainty, hedging the impact of the epidemic and many uncertainties caused by the economic downturn, financial support for the real economy continues to increase. Under the turbulent situation of the global financial market, China's stock market, bond market and foreign exchange market have generally operated smoothly and have strong toughness. The meeting asked all units of the Finance Committee to improve the macro plan, create effective demand, optimize the supply structure, maintain reasonable and sufficient liquidity, improve policy quality, and pay close attention to policy implementation.

  The meeting believed that small and medium-sized banks are of great significance for serving the real economy and small and medium-sized enterprises. Relevant departments have formulated work plans for deepening reforms and replenishing capital for small and medium-sized banks, and we must pay close attention to their implementation. Reform and development must be organically combined to serve the grassroots and small and medium-sized enterprises, while enriching capital, solve outstanding problems in small and medium-sized banks in terms of business positioning, corporate governance, credit costs, etc., and promote a virtuous cycle of governance structure and business development .

  The meeting emphasized that we must resolutely safeguard the interests of investors, tighten market discipline, and "zero tolerance" for counterfeiting in the capital market. We must adhere to the principles of marketization and rule of law, improve the information disclosure system, resolutely crack down on financial fraud, insider trading, market manipulation, and other violations of laws and regulations, and resolutely investigate and seriously deal with fraudulent listed companies, intermediaries, and individuals.

  The meeting pointed out that it is necessary to attach great importance to the risks of some financial products caused by the current price fluctuations in the international commodity market, raise risk awareness, and strengthen risk control. It is necessary to control spillovers, grasp moderation, improve professionalism, respect contracts, clarify responsibilities, and protect the legitimate interests of investors.

  The meeting also studied other matters.