Recently, Yan Qingmin, vice chairman of the CSRC, said at the 2018 Beijing CBD International Financial Forum that, in the next step, the CSRC will continue to deepen the reform and opening up of the capital market, improve the institutional mechanism of the capital market to support new technologies, new industries, new formats and new models ("four new" for short), and open up the ecological chain of industrial development, technological innovation and financial services, Promote the formation of high-quality integration of industry and finance, focus on supporting independent innovation in key areas, increase support for key areas and key enterprises, and promote high-quality development.

Yan Qingmin said that in recent years, the CSRC has carried out active exploration in giving full play to the function of the capital market and promoting the integration of industry and finance. The main experience is that we should grasp the "five characteristics":

First, adaptability. Finance is the lifeblood of the real economy, and it is the bounden duty of finance to serve the real economy. Whether it can meet the needs of the real economy and provide high-quality financial services is the fundamental sign to judge whether the combination of industry and finance is successful. Finance should not lead the real economy too far and move towards "disenchantment and self entertainment"; Nor can it lag behind the real economy and become an obstacle to economic development. The CSRC has always adhered to the fundamental requirements of the capital market to serve the real economy, guided by major national decisions and strategic deployment, comprehensively strengthened the construction of basic systems, played the direct financing function of the capital market, guided social funds to gather in high-quality enterprises, and made efforts to improve the quality of listed companies.

The second is innovation. In the combination of industry and finance, we should not only adhere to scientific and technological innovation in financial services, but also increase support for new technologies, new industries, new business forms and new models; We should also innovate financial services and provide new service contents and methods according to the needs of the real economy. The CSRC gives full play to its advantages in the capital market and actively serves scientific and technological innovation.

Third, complementarity. In the process of serving the integration of industry and finance, all kinds of financial markets, financial institutions and financial instruments should complement each other's strengths and work together. China's financing structure has long been dominated by indirect financing. Although direct financing has improved in recent years, its proportion is still low. The CSRC conscientiously implements the spirit of the 19th National Congress of the Communist Party of China, and pays attention to giving full play to the comprehensive function of the capital market to serve real enterprises while striving to improve the level of direct financing.

Fourth, it is inclusive. At present, the problem of difficult and expensive financing faced by SMEs is still prominent, and financial support for the development of SMEs is a major task. The combination of industry and finance in the new era should focus on expanding the breadth of financial services and work on inclusiveness.

Fifth, risk. The CSRC has always adhered to the general tone of seeking progress while maintaining stability, and has deeply recognized that "stability" is the basis and prerequisite for deepening the reform and opening up of the capital market. Giving full play to the advantages of the capital market to facilitate the integration of industry and finance cannot be separated from a "stable" market environment.

Share to let more people see