Central Bank Reaffirmed Continued Prudent Monetary Policy

The people's Bank of China released the China financial stability report (2011) 3 days ago. Central Bank This year, China faces many challenges both at home and abroad. The central bank reaffirmed the need for a proactive fiscal policy and a robust policy this year. currency We should pay attention to financial measures from the angle of total social financing. Economics At the same time, we should improve the multi-level financial market system and expand the scale of direct financing.

The report points out that 2011 is the year of the opening of 12th Five-Year. There are many favorable conditions for China's economy to maintain steady and rapid growth, but at the same time, it faces many challenges both at home and abroad.

To this end, we need to do the following several aspects. One is to implement a proactive fiscal policy and a prudent monetary policy, and to pay attention to the financial support for the economy from the perspective of total social financing, accelerate the transformation of the mode of economic development, and enhance the endogenous driving force of economic growth. Secondly, we should continue to promote the construction of market mechanism, improve the multi-level financial market system, expand the scale of direct financing, and further strengthen the construction of financial infrastructure. Third, deepen financial reform, further strengthen industry regulation, improve financial institutions' capital replenishment and restraint mechanism, focus on preventing and resolving potential risks in key areas, and comprehensively enhance the comprehensive strength and risk tolerance ability of financial industry. Fourthly, we should explore the framework of financial macro Prudential management system, prevent systemic risks and safeguard financial stability.

The report also made a comprehensive assessment of the stability of China's financial system in 2010. According to the report, facing the complex and changeable economic and financial situation at home and abroad, China's economy continued to develop towards the direction of macroeconomic regulation and control in 2010. The reform of financial industry has made remarkable achievements, the overall ability to resist risks has been further enhanced, the financial market has been developing smoothly and healthfully, and the overall financial system has been moving steadily.

Based on the evaluation of China's banking, securities, futures and insurance industry in 2010, the report indicates that the main indicators of banking industry, the quality of assets, the level of capital adequacy and the profitability of the banks have been maintained steadily, and the profit and loan ratio has been basically stable. The ratio of agricultural loans and small business loans has been improved, liquidity has been more adequate, risk management and crisis response capabilities have been significantly enhanced, the securities and futures industry has developed healthfully, the market scale has continued to increase, the leading position of institutional investors has been further enhanced, the market operation mechanism has been continuously improved, the supervision of credit compliance has been strengthened, the insurance industry has maintained a good momentum of development, the asset scale continues to expand, the premium income has increased substantially, the premium income has increased substantially, and the solvency capacity of insurance companies has been adequate.