What are the key points for comprehensively strengthening financial supervision in 2023?

　　2023 is a milestone year in the history of China's financial industry regulation.

　　In the past year, the trend of strong supervision and strict supervision has been further continued, the "iron fence" of the regulatory system has been tightened, and financial supervision has been comprehensively strengthened to provide a strong guarantee for the prevention and resolution of financial risks and the high-quality development of the real economy.

　　The formation of a new pattern of financial supervision has been accelerated

　　In 2023, the mainland's financial regulatory sector will usher in a blockbuster reform.

　　In March, the Central Committee of the Communist Party of China and the State Council issued the "Plan for the Reform of Party and State Institutions", many of which involve financial supervision: the establishment of the Central Financial Commission, the establishment of the Central Financial Work Commission, the establishment of the State Financial Supervision and Administration Administration, the deepening of the reform of the local financial regulatory system, the adjustment of the China Securities Regulatory Commission to an agency directly under the State Council, and the overall promotion of the reform of People's Bank of China branches...... The intensity of reform is unprecedented in recent years.

　　Subsequently, the relevant reforms were further promoted: on May 18, the State Administration of Financial Supervision and Administration was officially listed; on July 20, 31 provincial-level supervision bureaus, 5 supervision bureaus of cities with separate planning status, and 306 prefectural and municipal supervision sub-bureaus of the State Administration of Financial Supervision were officially listed; on August 18, 31 provincial (autonomous region and municipality) branches, 5 branches of cities with separate planning status and 317 prefectural (city) branches of the People's Bank of China were officially listed; on November 10, the "three determinations" plans of the State Administration of Financial Supervision and the China Securities Regulatory Commission were respectively introduced.

　　Dong Ximiao, a researcher at the Institute of Financial Research of Fudan University, said that through the adjustment of institutional settings and the optimization of responsibilities, a new pattern of financial supervision of "one bank, one bureau and one meeting" has been accelerated, and all kinds of financial activities have been included in supervision in accordance with the law to achieve full coverage of financial supervision.

　　Zeng Gang, director of the Shanghai Finance and Development Laboratory, said that in the future, on the basis of the continuous improvement of the regulatory framework, it is also necessary to strengthen the construction of the behavior supervision system, strengthen the coordination of macro-prudential and micro-prudential, and improve the professional ability of supervision, so as to lay a solid foundation for improving the efficiency of financial supervision, promoting the smooth operation of the financial industry, and better serving the real economy.

　　The regulatory "board" is accurate and painful

　　In 2023, under the general tone of strong supervision and strict supervision, the financial regulatory authorities will take action against the chaos in the financial market, strictly enforce the law, dare to show their swords, and supervise more accurately and effectively.

　　On December 1, the State Administration of Financial Supervision announced 22 fines against a number of financial institutions, involving large state-owned banks, joint-stock banks, insurance companies, etc., confiscating illegal gains and imposing fines totaling more than 300 million yuan.

　　In the field of securities, the China Securities Regulatory Commission (CSRC) has intensified its crackdown on financial fraud, fraudulent issuance, market manipulation and other illegal acts, and the intensity and speed of punishment have been significantly increased compared with the past. In 2023, the number of investigations of listed companies will increase by about 20% compared with 2022.

　　"Since the beginning of this year, the financial regulatory authorities have continued to strengthen the regulatory situation, the number of fined institutions has increased, and the number of large fines has increased, releasing the determination to increase efforts to promote the standardized development of the financial industry. Zhao Xijun, co-dean of the China Capital Market Research Institute of Chinese University, said.

　　"Increasing penalties is a direct manifestation of the supervision of 'long teeth and thorns'. Zeng Gang said that the behavior and motivation of financial institutions often depend on the trade-off between the cost of non-compliance and the corresponding benefits. By increasing the cost of non-compliance for financial institutions and their executives, it can achieve the regulatory effect that makes them dare not violate the rules.

　　Non-compliance in the management of related-party loans, insufficient disclosure of information on major related-party transactions, and transfer of benefits between wealth management products...... A variety of violations of laws and regulations reflect that there is still room for improvement in the compliance operation and risk control capabilities of financial institutions.

　　Judging from the signals released by the financial regulatory authorities, the next regulatory action will focus on the "key things" that affect financial stability, the "key people" that cause major financial risks, and the "key behaviors" that undermine the market order.

　　Constantly tightening the "iron fence" of the system

　　On December 17, the Regulations on the Supervision and Administration of Non-bank Payment Institutions was officially promulgated, further bringing non-bank payment institutions and their business activities with an annual transaction amount of nearly 400 trillion yuan into the track of rule of law for supervision.

　　In recent years, with the development of the financial market, new business forms, new businesses and new entities have emerged, requiring financial legislation to keep pace with the times, make up for the shortcomings of the system, and eliminate regulatory gaps and blind spots.

　　Accelerating the establishment of rules and regulations and constantly tightening the "iron fence" of the system have become a significant feature of the financial supervision field in 2023.

　　Measures for the Management of Capital of Commercial Banks, Interim Measures for the Supervision and Administration of Pension Insurance Companies, and Measures for the Assessment of Systemically Important Insurance Companies...... Since the beginning of this year, the regulatory system involving various types of financial institutions has been intensively introduced.

　　"In view of the development and changes of financial business and the practical needs, legislation in key financial areas and emerging fields has been promoted in a timely manner to provide a strong guarantee for the implementation of financial supervision and escort the steady and healthy development of the financial industry. Dong Ximiao said.

　　To strengthen regulatory safeguards, in addition to improving the system, it is also necessary to build a loyal, clean and responsible professional supervision team. Since the beginning of this year, the anti-corruption efforts in the financial sector have continued to intensify, and the number of people under investigation has increased significantly compared with last year, reflecting the mainland's firm determination to clean up the financial market environment. Judging from the information released by the financial regulatory departments, persisting inward and strengthening "supervision and supervision" will become a major focus of comprehensively strengthening financial supervision in the future.

　　Effective prevention and control of financial risks

　　Risk prevention is the eternal theme of financial work, and it is also the direct purpose of financial supervision.

　　Issuing special bonds for small and medium-sized banks to replenish the capital of small and medium-sized banks, adjusting and optimizing real estate credit policies, and establishing a long-term mechanism for preventing and resolving local debt risks...... Since the beginning of this year, under the escort of financial supervision, the work of preventing and resolving risks has been carried out in an orderly manner, and the operation of the mainland's financial industry has been generally stable, and the overall risk resistance capacity is strong.

　　As of the end of the third quarter, the non-performing loan ratio of commercial banks was 1.61%, the provision coverage ratio was 207.89%, the capital adequacy ratio was 14.77%, and the comprehensive solvency adequacy ratio of the insurance industry was 194%.

　　Coordinating development and security is the key to doing a good job in financial work.

　　Launched 25 specific measures to continuously strengthen financial services for private enterprises, further improve the statistical monitoring and assessment system for green finance, and meet the reasonable financing needs of real estate enterprises under different ownership systems without discrimination...... In 2023, under the guidance of financial supervision, financial resources will flow to key areas and weak links, and the quality and efficiency of serving the real economy will be further improved.

　　"With the comprehensive strengthening of financial supervision, the prevention and control of financial risks will be more effective and effective, and finance will provide higher quality services for economic and social development. Yin Zhentao, a researcher at the Institute of Finance of the Chinese Academy of Social Sciences, said.

　　"Xinhua Viewpoint" reporters Li Yanxia, Liu Hui, Wu Yu Source: Xinhua News Agency