Chinanews.com, March 2nd. The State Council Information Office held a press conference on the promotion of high-quality development of the banking and insurance industry on the 2nd. Guo Shuqing, chairman of the China Banking Regulatory Commission, said at the press conference that a total of 164 people will be punished by the Banking Insurance Regulatory System in 2020. 3,178 bank and insurance institutions who violated laws and regulations were punished, 4,554 persons responsible were punished, and the total amount of fines and confiscated was 2.28 billion yuan.

  Guo Shuqing stated that decisive achievements have been made in the battle to prevent and resolve financial risks.

Risks in the banking and insurance industry have shifted from rapid divergence to gradual convergence, and a number of major problems and hidden dangers "precise bomb disposal" have firmly maintained the bottom line of avoiding systemic risks.

  First, the financial leverage ratio has dropped significantly, and the blind expansion of financial assets has been fundamentally reversed.

From 2017 to 2020, the average annual growth rate of total assets in the banking and insurance industries was 8.3% and 11.4%, which was roughly half of the average annual growth rate from 2009 to 2016.

The proportion of idling interbank assets within the financial system has dropped significantly.

  Second, the identification and disposal of non-performing assets in the banking industry has made great strides. The cumulative disposal of non-performing loans from 2017 to 2020 is 8.8 trillion yuan, exceeding the total of the previous 12 years.

  The third is that shadow banking has been dismantled in an orderly manner, and its scale has dropped by about 20 trillion yuan from its historical peak.

  Fourth, financial illegal and criminal acts have been severely punished, the risks of illegal financial groups have been gradually resolved, a large number of illegal fund-raising cases have been dealt with in an orderly manner, and the Internet financial risk situation has fundamentally improved.

  Fifth, the response to external risk shocks was timely and effective, and the financial system maintained strong resilience.

  Sixth, the bubble of real estate financialization has been curbed, and the growth rate of real estate loans in 2020 is lower than the growth rate of various loans for the first time in eight years.

  Seventh, the incremental risks of hidden debts of local governments have been basically controlled, and the resolution of existing risks is progressing in an orderly manner.

  Eighth, the debt risks of large and medium-sized enterprises were handled steadily.

  By the end of 2020, 20,000 debt committees will be established nationwide, the market-based and legalized debt-to-equity swap amount will be 1.6 trillion yuan, and more than 500 large and medium-sized enterprises will implement joint credit granting pilots.

  Guo Shuqing said that a good atmosphere of strong supervision and supervision has basically taken shape. Unswervingly strengthening party style and clean government building and financial anti-corruption struggle, strengthening supervision and discipline, a group of corrupt elements who collude with businessmen, transfer interests, and illegally embezzle are brought to justice. Strictly enforce separation of public and private affairs, avoidance of duties, and supervisory accountability. In 2020, the bancassurance system will disciplinary actions against 164 people. Accelerate the completion of regulatory shortcomings, plug the loopholes in the system, and complete the construction of 61 regulatory rules and regulations in 2020. The chaos has been dealt with severely, and the penalties and accountability of cases have been kept under high pressure. In 2020, 3,178 banks and insurance institutions who violated laws and regulations were punished, 4,554 persons responsible were punished, and a total of 2.28 billion yuan was fined and confiscated. Promote the diversified settlement of financial disputes, repay and compensate consumers 17.7 billion yuan, and effectively protect the legitimate rights and interests of financial consumers.