After taking the helm of Chongqing Rural Commercial Bank, the leading domestic rural commercial bank last year, “post-70s” Xie Wenhui has a new identity.
In January this year, Xie Wenhui, Secretary of the Party Committee and Chairman of Chongqing Rural Commercial Bank, was elected as a representative of the new National People’s Congress. While “feeling very honored”, he deeply felt that “the mission is glorious and the responsibility is great”.
“I will be guided by the spirit of the 20th National Congress of the Communist Party of China, faithfully perform my duties, actively offer advice and suggestions, and strive to hand over an excellent answer sheet for the performance of the National People’s Congress.” Xie Wenhui said in an interview with a brokerage Chinese reporter.
He told the brokerage Chinese reporter that this year’s “Two Sessions” focused on the construction of the Chengdu-Chongqing economic circle, and submitted the “Suggestions on Promoting Chengdu-Chongqing Economic Integration with Financial Integration as the Focus”.
Promoting Chengdu-Chongqing Economic Integration with Financial Integration
Broker China reporter: As a newly elected deputy to the National People’s Congress, what areas do you focus on? What advice did you bring?
Xie Wenhui: In this year’s “two sessions”, I will focus on the construction of the Chengdu-Chongqing economic circle.
In recent years, the Sichuan-Chongqing Party and government have cooperated closely, and the People’s Bank of China and the Banking and Insurance Regulatory Commission of the two places have cooperated closely to promote the continuous improvement of financial support for the real economy policy, and promote the financial institutions of the two places to serve the Chengdu-Chongqing region. The construction of the twin-city economic circle has shown results .
At the same time, infrastructure construction, modern industry development, digital technology innovation and other fields in the two places have stimulated more and more market demand, which puts forward higher requirements for the financial supply of Chengdu and Chongqing, and urgently needs the financial institutions of the two places to speed up the joint construction Sharing and synergy to form a financial synergy.
In this regard, I submitted the “Suggestions on Promoting Chengdu-Chongqing Economic Integration with Financial Integration as the Focus”. I recommend:
The first is to strengthen system construction, encourage and guide financial institutions in the two places to strengthen interconnection and interaction, and accelerate the free flow of financial factors in the region;
The second is to increase policy and innovation resources, and explore the joint construction of the “Chengdu-Chongqing Financial Technology Joint Laboratory”;
The third is to establish a mechanism for sharing government affairs, industry data and financial data between the two places, and to carry out pilot projects;
The fourth is to provide tax relief for Chengdu-Chongqing financial institutions to support cross-regional key industrial projects, scientific and technological innovation, green development and other loan interest income.
Broker China reporter: In what aspects do you think the necessity of Chengdu-Chongqing financial integration is mainly reflected?
Xie Wenhui: The necessity of promoting Chengdu-Chongqing economic integration with Chengdu-Chongqing financial integration is currently embodied in the following three aspects:
First, Chengdu-Chongqing has broad prospects for economic development. However, compared with Beijing-Tianjin-Hebei and the Yangtze River Delta, there are still gaps in terms of policy preference, capital investment, service level, and innovation strength. have a lot of space;
Second, in recent years, cross-investment and establishment of factories by enterprises in the two places have intensified, which has stimulated diversified financing, investment, and consumption needs. There is a large demand for financial support to support the development of industries. have a lot of space;
Third, the advantages of digital resources in the two places are outstanding, but the number of technology platforms in the financial field is insufficient, and there is still a lot of room for collaboration in the fields of digital resource sharing and joint innovation of science and technology.
The digital transformation of small and medium-sized banks should focus on three aspects
Broker China Reporter: As a bank leader with a background in technology, do you think there are any difficulties for small and medium-sized banks to develop financial technology? Where is the starting point for digital transformation?
Xie Wenhui: At present, there are two main difficulties for small and medium-sized banks in the process of developing financial technology:
First, facing the structural problems of digital talents, there is a greater demand for high-quality digital talents and interdisciplinary talents;
Second, the degree of collaboration and sharing of digital resources is not high, and the level of financial technology development among small and medium-sized banks in different regions and types varies greatly.
In order to gain an advantage in regional competition, I believe that small and medium-sized banks should focus on three aspects in their future digital transformation:
One is to incorporate digitalization into the bank’s overall strategy, promote organizational structure reform around digital transformation, and attach importance to the bank’s own digital talent development and reserve;
The second is to build a differentiated and characteristic financial technology capability system based on its own endowment, serve the national strategy and local economic development, and provide new potential energy for its own digital transformation;
The third is to strengthen the collaboration and sharing of digital resources among small and medium-sized banks, fully learn from the advanced experience of peers, and effectively reduce the cost of transformation.
Broker China reporter: You mentioned that Chengdu and Chongqing have outstanding advantages in digital resources, but there is still a lot of room for collaboration in areas such as digital resource sharing and joint technological innovation. Can you talk about the linkage plan of Chongqing Rural Commercial Bank?
Xie Wenhui: Informatization infrastructure, public data, application systems, algorithm components, etc. are all important digital resources. Financial institutions in Chengdu and Chongqing have their own advantages in digital construction and application, and there is huge room for synergy and linkage improvement in the field of digital resource sharing.
Drawing on the experience of building digital channels such as “Jinyu.com” comprehensive financial service platform and “Changjiang Yurongtong”, we plan to promote the linkage and sharing of digital resources between the two places from three aspects:
The first is to strengthen exchanges and interactions between institutions in the two places and learn from each other;
The second is to export the financial technology products and services of the parent bank to the holding village banks, such as Yu Rongshang Dazhu Rural Bank and other institutions in Sichuan, to enhance their digital operation and service capabilities;
The third is to promote the opening of digital resource output channels, enhance the ability to share digital resources, and effectively serve the economic development of the two places with the bank’s advantages in the digital field.
Further broaden and unblock capital replenishment channels for small and medium-sized banks
Broker China Reporter: A new round of rural credit cooperatives reform is gradually rolling out. As a pioneer and person who has experienced it, what do you think is the starting point for the reform of rural credit cooperatives?
Xie Wenhui: Judging from the reform experience of Chongqing Rural Commercial Bank’s restructuring and listing to become a trillion-level rural financial institution, the reform of rural credit cooperatives focuses on the following three aspects:
The first is to enhance the leadership of party building, deepen reforms in terms of systems, mechanisms, assessment, and supervision, and promote the deep integration of party leadership with corporate governance and business management;
The second is to establish a modern corporate governance system, build a “three meetings and one management” governance structure with clear powers and responsibilities, and effective checks and balances from the source, and establish a modern bank governance system in accordance with the listing rules;
The third is the word “agriculture” in the lead, born because of “agriculture”, based on “agriculture”, grasping the “agriculture, rural areas and farmers” positioning and inherent advantages of rural financial institutions, and continuing to explore the characteristic and differentiated operation of supporting agriculture and supporting small businesses model.
Broker China reporter: Do you have any suggestions on capital replenishment for small and medium-sized banks?
Xie Wenhui: It is suggested that on the basis of promoting small and medium-sized banks to strengthen the concept of capital constraints, promote business transformation and development, and improve corporate governance, further broaden and unblock capital replenishment channels for small and medium-sized banks.
The first is to improve the special bond supplement mechanism for small and medium-sized banks. Establish and improve the special bond quota allocation mechanism, enrich and improve its exit mechanism arrangements, and give priority to supporting small and medium-sized banks with standardized operations and sustainable development capabilities to supplement capital;
The second is to promote the expansion and increase of perpetual bond issuance. Moderately relax the entry threshold for investors, reduce the requirements for policy support tools to improve market liquidity, guide long-term institutional investors to participate in the perpetual bond market, and carry out pilots for shelf issuance approval methods to enhance banks’ active management capabilities;
The third is to strengthen investor market guidance. The overall low valuation of domestic listed banks affects their refinancing capabilities. It is necessary to guide investors to strengthen rational investment thinking and value investment concepts to create a good capital market environment;
The fourth is to implement differentiated capital instrument issuance requirements. Implement different entry conditions, approval standards and issuance requirements for the same capital instrument for different types of banks, and expand the scope of application of existing capital instruments;
The fifth is to increase the value level of small and medium-sized banks. Introduce incentive policies for the development of small and medium-sized banks, such as considering regulatory incentives and tax incentives, to reduce regulatory and tax costs for small and medium-sized banks.
Proofreading: Su Huanwen
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