On October 31, the Financial Stability and Development Committee of the State Council (hereinafter referred to as the Financial Committee) held a special meeting to convey and study the spirit of the Fifth Plenary Session of the 19th Central Committee of the Party, and to study and deploy the implementation of the financial system.
The meeting was presided over by Liu He, member of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council, and Director of the Financial Committee. The responsible comrades of relevant member units of the Financial Committee attended the meeting.
The meeting held that the Fifth Plenary Session of the Nineteenth Central Committee of the Party was an important meeting of overall and historic significance held in the world after a major change unseen in a century, and my country is in a critical period to realize the great rejuvenation of the Chinese nation.
The Plenary Session deliberated and approved the "Recommendations of the Central Committee of the Communist Party of China on Formulating the Fourteenth Five-Year Plan for National Economic and Social Development and Long-Term Goals for 2035." A comprehensive strategic deployment has been carried out for a longer period of work.
In-depth study and implementation of the spirit of the important speech at the Fifth Plenary Session of the 19th Central Committee of the Party and General Secretary Xi Jinping is an important political task at present and in the future.
The financial system must strengthen the "four consciousnesses", strengthen the "four self-confidence", achieve "two safeguards", and consciously unify thoughts and actions into the decision-making and deployment of the Party Central Committee.
The meeting emphasized that it is necessary to do a solid job of financial reform and opening up in accordance with the strategic deployment made by the Fifth Plenary Session.
Build a modern central bank system, improve the money supply control mechanism, and improve the market-based interest rate formation and transmission mechanism.
Build financial institutions to effectively support the real economy, improve the level of financial technology, and enhance financial inclusiveness.
Deepen the reform of state-owned commercial banks, support the sustained and healthy development of small and medium banks and rural credit cooperatives, and reform and optimize policy-based finance.
Strengthen the capital market hub function, fully implement the stock issuance registration system, establish a normalized delisting mechanism, and increase the proportion of direct financing.
Promote the two-way opening of finance.
Improve the modern financial supervision system, strengthen system construction, improve financial supervision transparency and the level of rule of law, and improve the deposit insurance system.
Resolutely rectify all kinds of financial chaos, and "zero tolerance" for all kinds of violations of laws and regulations.
Actively and prudently prevent and defuse financial risks, resolutely maintain financial stability, and firmly hold the bottom line of preventing systemic financial risks.
The meeting pointed out that the current rapid development of financial technology and financial innovation must handle the relationship between financial development, financial stability and financial security.
It is necessary to implement the spirit of the Fifth Plenary Session, adhere to the principles of marketization, rule of law, and internationalization, respect international consensus and rules, and properly handle the relationship between the government and the market.
We must not only encourage innovation and promote entrepreneurship, but also strengthen supervision and comprehensively incorporate financial activities into supervision in accordance with the law to effectively prevent risks.
Supervisory departments must do their work conscientiously and treat similar businesses and subjects equally.
It is necessary to supervise market entities operating in compliance with laws and regulations, comply with regulatory rules, improve corporate governance, and perform social responsibilities.
It is necessary to enhance the comprehensiveness and transparency of business information disclosure, protect the legitimate rights and interests of financial consumers, and strengthen investor education.
It is necessary to urge listed companies to regulate the use of raised funds and disclose the use of funds in accordance with the law.
It is necessary to improve the fair competition review mechanism, strengthen anti-monopoly and anti-unfair competition law enforcement and justice, and enhance the comprehensive market supervision capabilities.
It is necessary to establish basic systems and standards for data resource property rights and transaction circulation, and strengthen the protection of personal information.
The meeting also studied other matters.