After the growth phase featured by high-leverage,expansion of shadow banks,and increased potential risks,the financial industry in China now enters the phase of stringent regulation and remediation.On December 7,2018,...After the growth phase featured by high-leverage,expansion of shadow banks,and increased potential risks,the financial industry in China now enters the phase of stringent regulation and remediation.On December 7,2018,the China Banking and Insurance Regulation Commission(CBIRC)disclosed 10 penalties to the tune of RMB156.3 million in fines and confiscation.On the Central Economic Work Conference held at the end of 2018,a new requirement was proposed to strengthen financial regulation and to win the battle on preventing and defusing risks.At the beginning of 2019,President Xi Jinping also made a key deployment on deepening financial reform on the supply side,calling for the optimization of financial services,and preventing financial risks.Hence,the phase of financial expansion characterized by financial liberalization,shadow banking,and the rapid growth of Internet finance is coming to a turning point.In the phase of stringent regulation,the financial sector should respond actively,make early preparations and clarify the boundary for profit growth and compliance development,break away from the current situation that lacking both high-quality assets and stable low-cost liabilities,and balance business innovation and prudential risk control to ensure the momentum of sustainable and sound growth.展开更多
Since the start of reform and opening up in 1978,espe-cially since the return of Hong Kong and Macao,for the purpose of maintaining the regions’stability and prosperity under the policy of“one country,two systems,”...Since the start of reform and opening up in 1978,espe-cially since the return of Hong Kong and Macao,for the purpose of maintaining the regions’stability and prosperity under the policy of“one country,two systems,”Guangdong Province has been at the forefront of reform and opening up.In this way,it has gained significant advantages in cooperation with Hong Kong and Macao.And its cooperative relationship with Hong Kong and Macao has become a leading example of regional development,enabling it to have been playing the role of a bellwether in the overall layout for China’s reform and opening up.展开更多
文摘After the growth phase featured by high-leverage,expansion of shadow banks,and increased potential risks,the financial industry in China now enters the phase of stringent regulation and remediation.On December 7,2018,the China Banking and Insurance Regulation Commission(CBIRC)disclosed 10 penalties to the tune of RMB156.3 million in fines and confiscation.On the Central Economic Work Conference held at the end of 2018,a new requirement was proposed to strengthen financial regulation and to win the battle on preventing and defusing risks.At the beginning of 2019,President Xi Jinping also made a key deployment on deepening financial reform on the supply side,calling for the optimization of financial services,and preventing financial risks.Hence,the phase of financial expansion characterized by financial liberalization,shadow banking,and the rapid growth of Internet finance is coming to a turning point.In the phase of stringent regulation,the financial sector should respond actively,make early preparations and clarify the boundary for profit growth and compliance development,break away from the current situation that lacking both high-quality assets and stable low-cost liabilities,and balance business innovation and prudential risk control to ensure the momentum of sustainable and sound growth.
文摘Since the start of reform and opening up in 1978,espe-cially since the return of Hong Kong and Macao,for the purpose of maintaining the regions’stability and prosperity under the policy of“one country,two systems,”Guangdong Province has been at the forefront of reform and opening up.In this way,it has gained significant advantages in cooperation with Hong Kong and Macao.And its cooperative relationship with Hong Kong and Macao has become a leading example of regional development,enabling it to have been playing the role of a bellwether in the overall layout for China’s reform and opening up.
