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Original title: Deepening of financial reform and opening to promote the formation of a new development pattern of “dual cycles”
Chinese peopleBankVice President Chen Yulu published a signed article on “The new development pattern of” dual cycles “and financial reform and openness” in the column of “Central Bank Research” on December 8. Chen Yulu said that promoting the formation of a new “dual cycle” development pattern is the main task of future economic development, and it is also the focus of financial reform and development during the “XIV Five-Year Plan” period. . The new “dual cycle” development pattern is in line with China’s main long-term strategies and policies, and emphasizessupplyAnd on the side of demand, circulation, economy and national and international finance.
Mutual promotion of national and international cycles
“Under the new ‘dual cycle’ development pattern, promoting the outside world from the inside and the inside out is the key to harnessing the effectiveness of the strategy and promoting high-quality development of the real economy.” Cheng Shi, chief economist at ICBC International, said: “Ten The path of high-quality development during the period of the Fourth Five-Year Plan, with the ‘domestic cycle as the main body’ not only means the ‘quantitative change’ of domestic demand in expansion, but also the “qualitative change” of the dynamic model of domestic demand.
Chinese peopleBankcoinSun Guofeng, Director of the Policy Department, previously emphasized that the central bank will do a good job in designing cross-cycle policies, innovate and improve the structural monetary policy tool system, accurately design incentive compatibility mechanisms, and guide to financial institutions to increase support to related fields in accordance with new development concepts. Continue to increase small and microcompanyFirst loan,creditLend, renew the loan without repayment, use innovation to drive high-quality supply to lead and create new demand, and accelerate the construction of a new development pattern with national and international cycles as the main body and mutual promotion of the national and international cycles.
In addition, Chen Yulu emphasized that the new development pattern is an open domestic and international double cycle.The new corona pneumonia epidemic has highlighted the maintenance of global China.industryChain status, promotionIndustrial chainThe urgency to move from the low-end to the high-end. The aim of international circulation is to better support and smooth domestic circulation, optimize structure, stimulate vitality, and achieve mutual promotion of national and international circulation through high-level opening.
Lian Ping, chief economist at Zhixin Investment, said that forming a strong domestic market does not mean abandoning foreign markets entirely, it is a transition from over-reliance on foreign markets to a dominant domestic market while continuing to actively participate.international marketThe competition can not only get a wider market development space, but can also discover the new needs of the main users and the market opportunities generated by the development of cutting-edge technology. The pressure of world market competition can also promote internal circulation to continuously improve efficiency. Only when the two national and international markets and the two resources are better connected can we achieve a better sustainable development of the domestic market.
Four levels to improve high-quality financial development
Accelerating the construction of a new development pattern also poses higher requirements for high-quality financial development. Chen Yulu said that financial development under the new development pattern can be focused on four levels: one is to promote system integration and innovation. financial through financial technology to serve the fourth industrial revolution; the other is to build on the cycle of new development concepts and new development patterns. Path and strategyBase point, Focus on improving the capabilities of financial services; third, deepen the high-level opening of the financial industry with the aim of mutually promoting internal and external cycles, paying attention to the prevention and control of systemic risks; fourth, optimize the design of financial reform and openness in conjunction with the main national development strategies.
In terms of fintech, ChinaICBCChief Technology Officer Lu Zhongtao said:dealBankYou need to lead through innovation, empower through technology, and serve the “dual cycle” pattern accurately and efficiently.Commercial bankAs an active fintech practitioner, we must focus onOffer sideReform the mainline, with technology as the engine, and continually increase the depth and breadth of financial services Consolidate financial infrastructure, practice inclusive finance, leverage data assets, empower socialization scenarios, insist on open integration and use financial technology to help provide capitalforeign currencyIntegration, enclosuresOutsourcingThe same efficient financial services, leading and creating new demand with high quality financial supply.
Of course, while importance is attached to innovation and development of financial technology, there is also a need to continually strengthen prevention and control of related risks. Strengthen risk prevention barriers, optimize early warning mechanisms, risk identification and elimination, stabilize financial market expectations and promote the solid development of innovation in financial technology.
In terms of accelerating the new development of the “dual cycle” of high-level open services in the financial industry, Chinaimport and exportLi Jun, deputy governor of the bank, said financial services must be accelerated to “go global.” Financial openness has introduced new elements and supplies of systems for the development of China’s financial industry. It also provides a broad arena for financial institutions to go global and engage in international competition and cooperation. In the process of building a new development pattern, bank financial institutions that depend on the attractiveness of the large domestic market and the dividends of two-way financial openness will have more opportunities to promote financial services in the international market and make better use of national and international markets. Two types of resources.
Improve the financial system of scientific and technological innovation with Chinese characteristics
To adapt to the new “dual cycle” development pattern and promote the financial industry to better serve the high-quality development of the economy and society, it is still necessary to pay attention to some key issues. Chen Yulu believes that it is necessary to improve the financial system of scientific and technological innovation with Chinese characteristics.
Specifically, Chen Yulu expressed his support for financial institutions to provide comprehensive financial services for technology innovation companies in accordance with the law of the life cycle of technology innovation Accelerate the formation of distinctive, dynamic and market-oriented professional operations and management .To start a businessInvestment Institution System Multichannel ExpansionRisk capitalSource of funds. Give the motherboard full set,Science and Technology Innovation Board、SMEsThe functions of the Council of SMEs, the Market for Growth Companies and the National System of Transfer of Shares of SMEs (New Third Council) have unblocked market-oriented exit channels for venture capital.
“The key to building a new ‘double cycle’ development pattern is to accelerate market-oriented reforms. From a financial perspective, the key is to establish a more inclusive, open and rationally structured financial system, especially to adapt to innovation driven by innovation and driven by services We have the conditions and the need to better promote the accelerated development of the capital market. “People’s Bank of ChinaSaid Ji Min, director of the counselor’s office.
National Social SecuritybackgroundWang Wenling, vice chairman of the board of directors, stated that under the new development pattern of “dual cycles”, institutional investors should seize the new opportunities generated by the accelerating pace of capital market opening, take the initiative to strengthen the exchanges and cooperation, establish correct investment concepts, new investmentproduct, Improve the efficiency of resource allocation and jointly maintain and build the ecological environment of China’s capital market.
(Source: China Securities Network)
(Editor in charge: DF537)
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