Promote the stable and healthy development of stock market

The national financial work meeting on January 6 to 7 held in Beijing. The standing committee of CCCPC political bureau and the state council, premier wen jiabao attend the meeting and speech, in his speech to summarize the financial system in recent years, the analysis of the current financial reform and opening up the new situation of development and the future a period of financial work and made plans. The standing committee of CCCPC political bureau li keqiang, vice premier of the state council to attend the meeting. Wen jiabao said, over the past five years, is the international financial crisis, spread, deepening five years, domestic and international economic situation is extremely complex severe. We anticipate, judge, action quick, decisive timely implementation of the package, the success of the once-in-a-lifetime deal with international financial crisis hit, and maintain the economic social stability, to avoid the modernization process of any big ups and downs for long-term sustainable development has laid a solid foundation, enhanced the country's international position and influence. In recent years, we determined to continue to promote and through a series of landmark major financial reform, Chinese financial industry took a new historic changes. One is the deepening financial institutions especially large commercial bank reform, financial industry comprehensive strength and improve the ability to resist risk. In late November 2011, Chinese financial industry total assets of 119 trillion yuan, more than at the end of 2006, up 149%; At the end of September 2011, commercial bank capital adequacy ratio of 12.3%, more than 5% higher in late 2006, bad loans is 0.9%, and the end of 2006 than dropped by 6.2%. 2 it is active and steady development of all kinds of financial markets, the basic form function complement each other, trading places, product diversification deal of multi-level financial market system. Start implementing the separation reform, thoroughly solve the long plagued the history of the development of capital market problem, the stock market function constantly improved. Three is steadily promoting the RMB exchange rate mechanism and market-oriented interest rate reform, the yuan international status obviously ascension. Our country and 14 countries and regions total signed for more than 13000 yuan of the bilateral local currency swap agreement, cross-border trade RMB settlement amount of 2.6 trillion yuan. Four is to strengthen and improve macroeconomic regulation, grasping the direction,MLB Cap strength and rhythm, and better processing financial support economic development and control inflation and guard against financial risks, the relation between the powerful promotes the fast yet steady economic development. Five is constantly improve the professional and effectiveness of financial supervision, strengthen the basic construction of system, the basic form a comprehensive system of legal system, powerful safeguard the financial security and stability in our country. Six is deepening financial opening to the outside world, the financial industry international status and discourse right for promotion. Wen jiabao said, our financial areas also has some prominent problems and potential risks. Financial institutions management way overall extensive, and corporate governance and risk management many problems still exist, the rural financial and small and medium sized financial institutions develop relatively slowly, financial regulatory ability to ascend, credit policy and industrial policy with also close enough, to the real economy is still not enough support to powerful. Special to see, the international financial crisis not over, we must strengthen suffering consciousness and sense of responsibility, in time of peace prepares for war, strive to improve the financial work to a new level. Wen jiabao stressed that make new period of the financial work, want to hold to financial services to the real economy essential requirements, firmly grasp entity economy development the solid foundation, from many take measures to ensure that their money to the entity economy, effective solve economic entity of financing in financing and expensive, and resolutely restrain social capital to take off to the virtual reality, in money fry money, prevent excessive self virtual economy circulation and inflation, prevent industry KongXinHua phenomenon. Insisting on market allocation of financial resources in reform orientation, enable the government role and border areas, and do the right resolutely let go of the tube, to manage, arouse all kinds of financial market main body energy. Insist on innovation and regulatory coordination development philosophy, and support the financial organization innovation, product and service mode innovation, improve the financial market development depth and the breadth, and at the same time to prevent to avoid regulation for the purpose and out of economic development needs "innovation". Insist that prevent and eliminate risk as a financial lifeline work, strengthen financial supervision and control ability construction, to crack down on financial crime, strengthen financial institutions network information security. Adhere to the gradual opening of the win-win independent safety policy in ensuring that the national economic and financial security based on the level of opening to improve the financial. Wen jiabao to for a time financial reform development to make to deploy. (a) for economic and social development to provide more and more high quality financial services. Financial industry should make great efforts to enhance the service functions, expand service coverage, increase in the field of weak financial support. Key support economic structure adjustment, energy conservation and emission reduction, environment protection and independent innovation, especially to speed up the rural financial services to solve deficiency, small miniature enterprise financing difficulties. (2) deepening the reform of financial institutions. Strengthen corporate governance, form effective decision-making, checks and balances mechanism, and set up standard effective incentive and restraint mechanism. Advancing the stock diversity, to break the monopoly and relaxing access, encourage and guide and regulate the folk capital into financial services, participate in the banking, securities, insurance, and other financial institutions restructuring and increase endowment spread. The policy financial institution to adhere to the policy business as the main body, to differentiate clearly policy business and any business, a FenZhang management, classification business accounting. The state development bank should insist on and commercialization reform deepening. (3) to strengthen and improve financial oversight, to prevent systemic financial risk. Banking to set up the comprehensive prudent risk supervision system. Securities to perfect the market system, strengthen the supervision of behavior, to protect the legal rights of investors. Insurance industry to strengthen supervision solvency, perfect the supervision system of classification. (4) local government debt prevent and eliminate risk. The current our country government debt general security, controllable. To comprehensive ShiCe, specimen, properly handling stock debt, regulating the local government debt financing mechanism, the local government debt payments classification into budget management, constructing the local government debt scale control and risk early warning mechanism.(5) strengthen the capital market and insurance market construction, promote the coordinated development of the financial market. Promote the stable and healthy development of stock market, and resolutely rectifications in all kinds of trading places, construction standard unified bond market, cultivating the insurance market. (6) perfect the financial macroeconomic regulation and control system, and strengthen the monetary policy and fiscal policy and regulatory policy, industrial policy coordination, effectively promote economic development and financial stability. To further improve the RMB exchange rate mechanism. (7) expand financial opening to the outside world, improve the allocation of resources capacity and financial security level. Safe and orderly convertibility of the renminbi under capital, improve the foreign exchange reserves management. Deepening the mainland and Hong Kong, Macao and Taiwan financial cooperation, support for Hong Kong consolidate and enhance the international financial centre. To speed up the construction of Shanghai international finance center. To participate in the global economic and financial management. (8) strengthen the financial infrastructure construction, improve financial development environment. To speed up the perfect formulated financial laws and regulations and establish a unified financial credit reporting platform, perfect the registration, custody, pay, liquidation financial infrastructure, strengthening the protection of consumers' rights. Wen ordered the financial sector and financial institutions seriously implement the central economic work conference spirit, do financial work this year. To implement a good stable monetary policies and further improve pertinence, flexibility and forward-looking,MLB hats maintain social financing scale reasonable growth. 2 to optimize the credit structure, strengthen the construction of national key project and continue affordable housing construction, to according with industrial policy enterprise especially small miniature enterprise, to the enterprise technological transformation of the credit support. Third, we need to deepen the reform of the system of the ipo market, to perfect the issuance and retreat city and share out bonus system, strengthening the stock market regulator, the primary market and promote the healthy development of 2 class market to coordinate, to boost the market confidence. Four to keen observation and track and analyze the economic situation at home and abroad, prepared to cope with plan to guard against economic and financial risk. Wen jiabao stressed that the current China's economy has maintained fast yet steady development, present is growing rapidly, prices stabilised, benefit improve people's livelihood improvement, a good situation, the financial system is stable operation, the social economy development fundamentals and long-term trend is going well has not changed, we are completely confident, competence and conditions promoting economic development to step on to a new stage. Member of CCCPC political bureau, vice premier wang qishan in the meeting closed on the implementation of the conference spirit to deploy. Member of CCCPC political bureau, vice premier hui liangyu, zhang dejiang, member of CCCPC political bureau &secretary of CCCPC liu yandong state councilor, state councilor LiangGuangLie, makaay, DaiBingGuo to attend the meeting. Each province (autonomous region, municipality) and the people's government of the state plan and xinjiang production and construction corps responsible for comrade, the central and state organs, relevant units shall be responsible for the financial system and other comrades to attend the meeting.

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