Associated Press, April 25 (reporter Wang Hong) Recently, at the 9th meeting of the Standing Committee of the 14th National People's Congress, the Vice Minister of Finance made a speech. The report pointed out that the proportion of state-owned financial capital in banking, insurance, securities and other industries should be adjusted in a timely and reasonable manner to focus on building a "national team" in the financial industry.
Industry experts told the Associated Press of Finance and Economics that from the perspective of adjusting the distribution of state-owned financial capital, more attention may be paid to the distribution of state-owned capital to non bank financial institutions in the future. The financial industry has been focusing on risk prevention for a long time. The report sends a signal that we should focus on risk prevention, reform and innovation, and strengthen the financial "national team". Experts called for the report to be documented, so as to promote the reform and innovation of the financial industry.
Reasonably adjust the proportion of state-owned financial capital to create a "national team" in the financial industry
In view of the problems such as the "dominance" of banking institutions and the weakening of the function of policy based finance in recent years, the above report points out that we should accelerate the optimization of state-owned financial capital distribution and structural adjustment. With the theme of promoting high-quality development, we will study and improve the distribution of state-owned financial capital and effectively play the leading role of state-owned financial capital in the financial field. The proportion of state-owned financial capital in banking, insurance, securities and other industries should be adjusted in a timely and reasonable manner by means of capital supplement, profit increase and other means in accordance with the principle of "advance and retreat, reasonable flow".
"The state-owned financial capital is a scarce resource, which should be used on the cutting edge, so it will involve structural adjustment. In the past, official statements said that too much state-owned financial capital was concentrated in the banking industry, while non bank financial institutions were slightly weaker. From the perspective of adjusting the distribution of state-owned financial capital, it may pay more attention to the distribution of state-owned capital to non bank financial institutions in the future", Wu Gangliang, a researcher of China Enterprise Reform and Development Research Association, told the Associated Press of Finance and Economics.
As mentioned in the report, through in-depth research on capital supplement, profit increase and other ways, in accordance with the principle of "advance and retreat, reasonable flow", Wu Gangliang believes that this also points out the direction of the adjustment of state-owned financial capital distribution, and does not exclude that there are other ways to adjust state-owned financial capital.
In response to the review comments on the huge scale of China's financial industry, but the competitiveness needs to be strengthened, the report pointed out that we should focus on building a "national team" of the financial industry. We will study and draft action plans to strengthen the management of state-owned financial capital, promote large state-owned financial enterprises to benchmark world-class financial enterprises, highlight their main businesses, improve their specialties, and constantly improve their competitiveness and international influence. Promote leading securities companies to become stronger and better, and support Shanghai and Shenzhen Stock Exchanges to build world-class exchanges.
"There are many new problems in the report, and a large amount of content about the reform of state-owned enterprises has been absorbed into the reform of financial state-owned enterprises." Li Jin, an expert on state-owned enterprise reform and chief researcher of the China Enterprise Research Institute, told the Associated Press of Finance and Economics that the statement of building a national "financial team" mentioned in the report gives a fresh feeling. For a long time, the financial industry has focused on risk prevention. The report sends a signal that we should focus on risk prevention on the one hand, and reform and innovation on the other hand to strengthen the financial "national team".
Li Jin called for the report to enter the decision-making system and form a document, which would greatly encourage the financial sector in China and have a strong role in promoting financial reform and innovation.
Improve the ability of financial services to the real economy and promote the focus on the main business
According to the report, the Ministry of Finance and financial management departments continued to strengthen the positioning of policy based financial functions and increase supply. It was made clear that policy finance should focus on serving the national strategy, focusing on businesses that commercial finance could not and could not do well. We will implement reform of policy banking business, and promote it to focus on its main business and strictly control commercial business. We will study and improve the assessment and evaluation mechanism of policy financial institutions, and guide policy financial institutions to strengthen support for major national strategies, key areas and weak links through improving corporate governance.
In addition, efforts should be made to promote the differentiated development of central and local state-owned financial enterprises. Support the central financial enterprises to further strengthen and optimize, be the main force to serve the real economy and maintain financial stability, and strengthen financial support for national major strategies, scientific and technological innovation, and green low-carbon. We will encourage local state-owned financial enterprises to focus on their main businesses, improve quality and efficiency, base their operations on local characteristics, and enhance their ability to serve the real economy and resist risks.
"The report also emphasizes that each state-owned financial institution should strictly abide by its own functional orientation. The state-owned financial capital is limited, so it should focus more on enhancing its core functions." Wu Gangliang said that an important rule of state-owned enterprise reform is classified reform and development. On the whole, the overall tone of the report is the same as that of the reform of state-owned enterprises, emphasizing that the main responsibility should be focused, the reform should be classified, and state-owned capital should be adjusted and optimized according to the needs of serving the national strategy.
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