Original title: Adhere to the fundamental purpose of financial services to the real economy
Finance is the blood of the real economy. Serving the real economy is the bounden duty and purpose of finance, and it is also the fundamental measure to prevent financial risks. The Central Financial Work Conference emphasized that “adhering to the fundamental purpose of financial services to the real economy” is a profound understanding and high-level summary of the nature and development laws of finance. Only by firmly grasping the fundamental purpose of serving the real economy and continuously enhancing the ability and level of serving the real economy can the development of finance itself gain sustained momentum and truly realize a virtuous cycle between finance and the economy.
As an important part of the country’s core competitiveness, financial development is related to the overall situation of China’s modernization drive. If finance is active, the economy is active; if finance is stable, the economy is stable. When the economy is prosperous, finance is prosperous; when the economy is strong, finance is strong. From enterprise production and investment, to household consumption and savings, to government macro-control, they are all inseparable from the functions provided by financial markets and financial institutions such as mobilizing savings, allocating funds, diversifying risks, supervising enterprises, and promoting transactions to reduce information costs. and transaction costs, promote capital accumulation and technological innovation, and promote economic development. Therefore, the vitality and efficiency of finance directly affect the level and speed of economic development.
Since the 18th National Congress of the Communist Party of China, China’s financial sector has deepened its understanding of the nature and laws of finance, and has regarded serving the real economy as the foundation of the financial industry. Financial products have become increasingly rich, financial services have become more inclusive, and the financial industry’s ability to serve the real economy has improved. The level is significantly improved. However, there are still problems such as low quality and efficiency in financial services to the real economy. From the perspective of finance itself, we have promoted financial reform and development in an orderly manner, and the total supply of financial services has continued to increase. However, we are still unable to improve the market structure, business philosophy, innovation capabilities, service levels, etc. Fully meet the requirements for high-quality economic development; from the perspective of the relationship between finance and the real economy, under the circumstances of structural imbalance and declining profitability of the real economy, a large amount of monetary funds circulate on their own in the financial system, resulting in frequent price fluctuations in the capital market, and some enterprises Not only does it rely on financial leverage to engage in irrational expansion, but it also overinvests industrial capital in the financial industry, diverting funds from real funds into virtual funds. From the perspective of financial supervision mechanisms, financial supervision and governance capabilities are weak, and it is necessary to deepen the reform of the financial supervision system and clarify the power of the central and local governments. Division of responsibilities, promotion of unified regulatory standards, elimination of regulatory gaps and blind spots, and improvement of regulatory technology and implementation efficiency.
Adhering to the fundamental purpose of financial services to the real economy, we must fully, accurately and comprehensively implement the new development concept, take serving the real economy as the starting point and goal, promote financial supply-side structural reform, and build a system and mechanism for finance to effectively support the real economy. , actively serve the implementation of major national strategies and cultivate new driving forces, reduce comprehensive social financing costs, and continuously inject “source of vitality” into the real economy. At present, a new round of scientific and technological revolution and industrial transformation are developing in depth. In order to adapt to the requirements of technological innovation, the engine of economic growth, it is necessary to pay attention to financial support for cutting-edge innovation projects, as well as financial support for innovation of small and medium-sized enterprises, and promote the improvement of The transformation rate of scientific and technological achievements, five major articles on science and technology finance, green finance, inclusive finance, pension finance, and digital finance, will continue to meet the economic and social development and the people’s growing financial needs. At the same time, we will comprehensively strengthen financial supervision, bring all financial activities under supervision in accordance with the law, comprehensively strengthen institutional supervision, behavioral supervision, functional supervision, penetrating supervision, and continuous supervision, and organically combine macro-prudential management with supervision in key areas and emerging areas. , to maintain the bottom line of preventing systemic risks.
The economy is the body and finance is the blood. The two coexist and prosper together. We must follow the path of financial development with Chinese characteristics, adhere to the fundamental purpose of financial services for the real economy, and provide higher-quality financial services for the development of the real economy through reform, adjustment and optimization of the financial supply system. (Yuan Hui)
2023-11-13 02:23:00
#Adhere #fundamental #purpose #financial #services #real #economyCommentsChina #Engineering #Network
