▷ Xinhua Silk Road: The role of the financial sector in the real economy will be …


23.10.2021 – 02:57

Xinhua Silk Road Information Service

Beijing (ots/PRNewswire)

The Financial Street Forum 2021 annual conference, which began in Beijing on Wednesday, gathered insights into the role of the financial sector in building economic resilience and supporting quality development.

There are currently more than 40 million market participants supported by inclusive small and micro-credit, which speaks for China’s economic resilience and active financial measures, said Yi Gang, governor of the People’s Bank of China (PBOC), in his speech at the conference.

The increase in money supply and social finance is broadly in line with nominal GDP, suggesting the right policy and adequate liquidity, according to Yi, who pointed out that monetary and credit policy tools are not only small, medium and micro-enterprises, but also an environmentally friendly one and could better structurally support low-carbon development.

The financial sector is now playing a key role in promoting a new development paradigm and supporting quality development, said Guo Shuqing, chairman of China’s Banking and Insurance Regulatory Authority (CBIRC), calling for more financial action to improve people’s living environment, insurance coverage, the education system and other areas.

A multilayered stock market system with complementary functions and organic compounds to meet the various financing needs of companies is an inherent requirement for improving the adaptability of finance to the real economy, said Yi Huiman, chairman of the Chinese Securities and Exchange Commission (CSRC), who called for reform of the To continuously advance the registration system in order to promote the cycle of economy and finance.

Pan Gongsheng, PBOC deputy governor and head of the State Foreign Exchange Administration (SAFE), noted that stable domestic economic fundamentals would serve as a fundamental guarantee for China’s foreign exchange market in responding to external shocks.

Liu Siyang, vice president of the Xinhua News Agency, pointed out that Xinhua witnessed and reported on every historic moment in the development of China’s financial industry. The Xinhua News Agency will continue to refine its business news and information services, particularly in the financial sector, taking full advantage of its significant intellectual, terminal and global advantages to contribute to the healthy development of China’s financial industry.

Established in 2012, the forum is sponsored by the Beijing City People’s Government, People’s Bank of China (PBOC), Xinhua News Agency, China Banking and Insurance Regulatory Commission (CBIRC), China Securities Regulatory Commission (CSRC) and the State Administration of Foreign Exchange (SAFE) jointly organized and is considered to be groundbreaking for China’s financial reform and development.

Original-Llink: https://en.imsilkroad.com/p/324404.html

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Press contact:

Gao Jingyan
+86-13552905167

Original content by: Xinhua Silk Road Information Service, transmitted by news aktuell


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