December 15, 2019 Source: China Net Finance

China Net Finance December 15th According to news from the central bank website, the central bank recently held an enlarged meeting of the party committee to convey and learn the spirit of the central economic work conference. The meeting emphasized that in order to do well in the financial work of next year, in accordance with the spirit of the Central Economic Work Conference, the following key points should be highlighted: first, adhere to a sound monetary policy to be flexible and appropriate; second, resolutely win the battle to prevent and resolve major risks; and third, highlight financial service entities The fourth is to deepen the structural reform of the financial supply side and further expand financial opening up.

The following is the full text:

On December 13, the People's Bank of China held an enlarged party committee meeting to convey and learn the spirit of the Central Economic Work Conference, and to study, implement, and implement opinions. Guo Shuqing, Secretary of the Party Committee of the People's Bank of China, chaired the meeting, and Deputy Secretary of the Party Committee, President Yi Gang and other members of the Party Committee attended the meeting.

The conference held that the Central Economic Work Conference was a very important conference held at the time of decisive victory in building a well-off society in an all-round way and achieving the goal of the first century of struggle. The key tasks and overall requirements identified at the meeting have important guiding significance for the next year's financial work. Guided by Xi Jinping's thoughts on socialism with Chinese characteristics in the new era, the People's Bank of China should fully implement the spirit of the Central Economic Work Conference, strengthen the "four consciousnesses", strengthen the "four self-confidences", achieve "two safeguards", and unify ideas and actions Come to the Party Central Committee to judge the current situation and make major decisions on economic and financial work.

The meeting emphasized that to do well in the financial work of next year, we must closely follow the goals and tasks of building a well-off society in an all-round way, adhere to the general tone of steady progress, adhere to the new development concept, adhere to the main line of supply-side structural reform, and adhere to reform and opening up as the driving force , Promote high-quality development, resolutely win the battle to prevent and mitigate major financial risks, comprehensively do a good job of the "six stability", make overall plans to promote stable growth, promote reform, adjust the structure, benefit the people's livelihood, prevent risks, maintain stability, and maintain economic operation In a reasonable interval, in order to ensure the comprehensive construction of a well-off society and the successful conclusion of the "Thirteenth Five-Year Plan" period, a good monetary and financial environment will be created.

The meeting pointed out that to do well in the financial work of next year, the task is arduous and the responsibility is heavy. We must first take political construction as the command and persist in strengthening the party building of the PBC system. The majority of party members and cadres must keep in mind the original intention and mission of financial work, practice "two safeguards" with practical actions, continuously improve their style, strengthen their confidence in winning, and take an active role, dare to take responsibility, and take on heavy responsibility, and ensure that the Central Economic Work Conference on financial work Implementation of the implementation.

The meeting emphasized that to do well in financial work next year, in accordance with the spirit of the Central Economic Work Conference, the following key points should be highlighted: First, adhere to a sound monetary policy to be flexible and appropriate. Strengthen counter-cyclical adjustments, maintain reasonable and sufficient liquidity, and promote the growth of monetary credit and social financing to match economic development. Focus on reform to unblock the monetary policy transmission mechanism, further reduce the social financing costs of private small and micro enterprises, and improve the effectiveness of monetary policy. The second is to resolutely win the battle to prevent and resolve major risks. Consolidate the phased results achieved in the early stages of the tackling the tough battles, and stabilize the finance and expectations. The macro-leverage ratio shall be kept basically stable. Proper handling of prominent financial risk points, compacting the responsibilities of all parties, and resolutely keeping to the bottom line that no major financial risk will occur. Further improve the macro-prudential management framework, and coordinate the supervision of financial infrastructure, financial holding companies, and systemically important financial institutions. Accelerate the completion of the shortcomings of the system, improve the financial laws and regulations, and gradually transition from the symptoms to the root causes. The third is to highlight the financial services of the real economy. Further improve the credit structure, increase financial support for the manufacturing industry and private small and micro enterprises, increase the medium and long-term financing of the manufacturing industry, and establish a more comprehensive system of financing support policies for private and small and micro enterprises. Adhere to the "house is used to live, not for speculation" positioning, and coordinate the real estate financial control. We will make every effort to complete the task of financial support to tackle poverty. Fourth, deepen the structural reform of the financial supply side and further expand financial opening up. Implement the duties of the Office of the Finance Committee. Optimize the structure of the financial system and deepen the reform of small and medium banks and rural credit cooperatives. Through various channels such as innovative capital instruments, the capital of small and medium-sized banks will be further replenished, and the capacity of small and medium-sized banks to lend will be enhanced. Strengthen supervision of financial technology innovation. We will steadily advance the internationalization of RMB and the convertibility of capital accounts, and promote the opening up of the financial industry in a wider range, wider areas, and deeper levels.

The meeting decided that it is planned to hold an annual working meeting of the People's Bank of China in the near future to make a comprehensive plan for the entire system to study and implement the spirit of the Central Economic Work Conference, and to do a good job of various tasks in 2020.