The role of the financial sector in the real economy discussed at the annual Financial Street Forum in Beijing
Posted: October 22, 2021 at 12:59 am EDT|Update: 2 hours ago
BEIJING, 22 October 2021 / PRNewswire / – The Financial Street Forum 2021 annual conference kicked off Wednesday in Beijing shared knowledge on the role of the financial sector in enhancing economic resilience and supporting high-quality development.
At present, there are over 40 million market entities supported by inclusive small and micro-loans, which from China economic resilience and active financial actions, depending on Yi Gang, Governor of the People’s Bank of China (PBOC), when addressing the conference.
The growth of money supply and social finance fundamentally matches that of nominal GDP, which interprets appropriate policy and sufficient liquidity, according to Yi, noting that structurally, monetary and credit policy tools could better support small, medium-sized businesses. and microenterprises and green and weak enterprises. -carbon development.
The financial sector is now assuming a key role in promoting a new development paradigm and supporting high-quality development, according to Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC), calling for more financial actions to improve people’s living conditions, insurance protection, education system, among others.
A multilevel stock market system with complementary functions and organic connections to meet the diverse financing needs of companies is an inherent requirement to improve the adaptability of finance to the real economy, according to Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC), calling for steadily advancing the reform of the registration system to promote a virtuous circle of economics and finance.
Pan Gongsheng, vice-governor of the PBOC and head of the State Administration of Foreign Exchange (SAFE), noted that the stability of domestic economic fundamentals would be the basic guarantee for from China foreign exchange market in response to external shocks.
Liu Siyang, vice president of Xinhua News Agency, noted that Xinhua witnessed and reported every historical moment in the development of from China industry and further refine its economic news and information services, particularly in the financial field, by making full use of its authoritative, intellectual, terminal and global advantages to contribute to the healthy development of from China financial sector.
Founded in 2012, the forum is jointly organized by the People’s Government of Beijing Municipality, PBOC, Xinhua News Agency, CBIRC, CSRC and SAFE, hailed as an indicator of from China financial reform and development.
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