What are the main tasks and important measures for speeding up the construction of a financial powerhouse in the "Thirteenth Five-Year Plan"? Wang Jiang of the Central Financial Office responds.
Question: What are the main tasks and important measures for accelerating the construction of a financially strong country during the "13th Five-Year Plan" period?
The plan proposes a new deployment for accelerating the construction of a financially strong country. The financial system should solidly promote various tasks such as financial risk prevention, strengthened regulation, and promotion of high-quality development in accordance with the requirements of the plenary session.
Firstly, continuously improve the central bank system. Construct a scientifically sound monetary policy system, a comprehensive macro-prudential management system, ensure the smooth transmission of monetary policy, and improve the market-oriented interest rate formation, regulation, and transmission mechanisms. Maintain the stability of the RMB exchange rate at a reasonable and balanced level and promote the internationalization of the RMB. Actively participate in and promote global financial governance reform.
Secondly, deepen the implementation of the five major aspects of financial development. Increase support for high-level technological self-reliance and building a technology powerhouse, improve the quality of financial supply for comprehensive green transformation and the construction of a beautiful China in economic and social development, improve a multi-level, wide-reaching, sustainable inclusive financial system, accelerate the improvement of the pension financial system to address the aging population, and promote the high-quality development of digital finance.
Thirdly, promote the healthy and stable development of the capital market. Focus on enhancing the tolerance of the capital market for new industries, new formats, and new technologies, actively adapt to the needs of technological innovation development and the growth requirements of technology-oriented enterprises, promote the development of new productive forces. Improve the coordination of investment and financing functions in the capital market, build and cultivate a capital market ecosystem that encourages long-term investments, strengthen the full-chain supervision of listed companies from access to exit, and accelerate the construction of a comprehensive system for preventing and cracking down on fraud in the capital market.
Fourthly, further optimize the financial institution and infrastructure system. Promote various financial institutions to focus on their core business, improve governance, and develop complementary advantages in providing effective services to the real economy. Accelerate the construction of a safe and efficient financial infrastructure system.
Fifthly, accelerate the construction of an international financial center. Increase the price influence of the Shanghai financial market, support Shanghai in steadily expanding institutional openness in the financial field, strengthen the legal guarantee for the construction of an international financial center, and play a good role in coordinating and promoting the construction of the Shanghai international financial center. Support Hong Kong in consolidating and enhancing its status as an international financial center, and strengthen its role as a hub for offshore RMB business.
Sixthly, comprehensively improve financial regulatory capabilities. Strengthen institution-based supervision, conduct-based supervision, functional supervision, penetrative supervision, and continuous supervision, bring all financial activities under supervision in accordance with the law, strengthen full-process and full-chain supervision from access to exit. Strengthen coordination between central and local authorities, effectively improve the forward-looking, continuous, coordinated, and effective supervision. Establish a financial risk early correction mechanism with hard constraints, ensure early discovery, early warning, early exposure, and early disposal of risks. Strengthen supervision and management of financial stability funds. Crack down severely on all types of illegal financial activities. Strengthen regulatory accountability to compel the implementation of responsibilities.
Seventh, focus on strengthening the construction of financial rule of law. Promote the completion of financial legislation, fully utilize the guiding and leading role of financial legislation, coordinate the promotion of major financial laws and regulations and their amendments and removals. Increase the enforcement of financial laws, have zero tolerance for all types of illegal behaviors.
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