Deeply understand and actively cultivate a financial culture with Chinese characteristics

The cultural bloodline of the Chinese nation has been inherited for thousands of years and has endured for a long time, and it is a great spiritual force that promotes the continuous development of the cause of the party and the country. General Secretary Xi Jinping pointed out in an important speech at the opening ceremony of the special seminar on promoting high-quality financial development by major leading cadres at the provincial and ministerial levels that to promote high-quality financial development and build a financial power, it is necessary to adhere to the combination of rule of law and rule of ethics, and actively cultivate a financial culture with Chinese characteristics, so as to: be honest and trustworthy, do not cross the bottom line, seek profit with righteousness, not seek profit, be prudent and prudent, do not rush for quick success, keep integrity and innovation, do not deviate from reality to virtuality, comply with laws and regulations, and do not act recklessly. This important exposition not only puts cultural construction in an important position in the overall work of a financial power, and gives cultural construction the mission and responsibility to promote the construction of a financial power, but also provides a fundamental guide and action guide for cultivating a financial culture with Chinese characteristics by profoundly clarifying the basic essence of the five aspects.

The profound connotation of financial culture with Chinese characteristics

The financial culture with Chinese characteristics has distinctive characteristics suitable for the national conditions of the mainland, which not only reflects the inherent requirements of the law of financial development in the new era, but also reflects the creative transformation and innovative development of China's excellent traditional culture, and is a theoretical innovation and vivid practice to promote the construction of a financial power in the context of Chinese culture. Specifically, we can focus on five key points to explain the profound connotation of financial culture with Chinese characteristics.

"Honesty and trustworthiness, do not cross the bottom line". Honesty and trustworthiness is an important embodiment of the moral outlook and business outlook accumulated by the Chinese nation in long-term social activities, and embodies the excellent traditional Chinese cultural thought of "sincerity, the way of heaven" and "faith, the treasure of the country, and the protection of the people". This is mainly reflected in two requirements in the financial culture: on the one hand, the financial system is required to respect objective facts and strictly abide by its commitments, which is the fundamental foundation for the construction of the financial credit system, and is also an important guarantee for the early identification and disposal of risks; on the other hand, the financial system is required to enhance moral cultivation and awareness of the rule of law, not to exceed the bottom line of morality and the bottom line of the law, to resolutely punish crime and corruption, and to strictly prevent moral hazard.

"Profit with righteousness, not profit". This explores the relationship between righteousness and profit from the perspective of both righteousness and benefit, reflects the excellent traditional Chinese cultural thought of "seeing profit and thinking about righteousness" and "righteousness and then taking", and emphasizes that the pursuit of economic interests should be in line with morality as the premise, and restrain the desire for profit. This requires the financial system to bear in mind the "great man of the country", adhere to the people-centered value orientation, adhere to the fundamental purpose of serving the real economy, and actively fulfill the mission and responsibility of helping the construction of a strong country and the great cause of national rejuvenation with high-quality financial development. It is necessary to promote the healthy development of the financial industry by constantly satisfying economic and social development and the growing financial needs of the people, and we must not exchange our own interests at the expense of the interests of the people and the state.

"Steady and prudent, not eager for quick success". This mainly embodies the excellent traditional Chinese cultural thinking of "if you want to be hasty, you will not be able to achieve it" and "if you are cautious, you will succeed, and if you are light, you will fail", and it emphasizes the need to grasp the relationship between speed and stability, and restrain the ideological tendency of being in a hurry to achieve results. In the face of complex and severe global financial risks and still prominent domestic financial contradictions, the financial system should adhere to the principle of seeking progress while maintaining stability, focus on coordinating the relationship between development and security, grasp the timeliness and efficiency on the premise of stabilizing the overall situation, and actively promote financial development according to the actual situation, and at the same time resolve risks in a solid and steady manner, and firmly guard the bottom line of no systemic financial risks.

"Integrity and innovation, not from the real to the virtual". This reveals the dialectical relationship between change and immutability, and embodies the excellent traditional Chinese cultural thought of "poverty leads to change, change leads to change, and general rule is long" and "knowledge is always clear", emphasizing that we must not only adhere to the truth, but also have the courage to innovate. This requires the financial system to not only adhere to the right path, but also to pioneer and reform, and always adhere to the correct direction of serving the real economy as the fundamental purpose. On this basis, we will strive to grasp the law of financial development in the new era, actively respond to the new problems and challenges faced by financial development, continue to promote the practical, theoretical and institutional innovation of the mainland's financial industry, and stimulate new impetus and new momentum to improve the quality and efficiency of financial services for the real economy through innovation.

"Comply with laws and regulations, and don't act recklessly". This embodies the excellent traditional Chinese cultural thinking of "the law, the etiquette of the world" and "abiding by the law does not exceed the rules", emphasizing the importance of the legal system to the national order and the concept of the rule of law to the norms of behavior. This is highly consistent with the requirements of comprehensively governing the country according to law and strengthening the construction of the rule of law in finance. The construction of a financial power must take the rule of law as an important guarantee, and form an external constraint on the code of conduct with the mandatory and authoritative nature of legislation. At the same time, it is necessary to establish an ideological and moral system that is compatible with the construction of the financial rule of law, form an endogenous driving force for law-abiding behavior norms, combine the rule of ethics with the rule of law, and inject the cultural power of legal compliance into the high-quality development of finance.

The significance of financial culture with Chinese characteristics

Financial culture with Chinese characteristics is a major theoretical innovation that combines Marxist financial theory with China's excellent traditional culture. The report to the 20th National Congress of the Communist Party of China pointed out that to uphold and develop Marxism, it is necessary to integrate it with the excellent traditional Chinese culture. Only when it is rooted in the fertile soil of the history and culture of our own country and nation can the tree of Marxist truth take deep roots. Financial culture with Chinese characteristics is a major innovation and theoretical sublimation of General Secretary Xi Jinping's combination of Marxist financial theory and Chinese excellent traditional culture based on the overall vision of building a financial power, which not only reflects the absorption and promotion of China's excellent traditional culture and financial thought, but also deeply reflects the requirements of the times on the road of financial development with Chinese characteristics, and has far-reaching historical significance.

The financial culture with Chinese characteristics will lay a solid cultural foundation for the development of finance with Chinese characteristics. The hard power and soft power of competition in the financial field are intertwined, and the construction of a financial power requires not only the hard power of strong financial institutions, financial infrastructure, and financial system rules to provide the material foundation, but also the cultural soft power closely related to values and behavioral rules to provide the spiritual foundation. The financial team is the builder of a financial power, and its behavioral norms and ability are directly related to the overall situation of financial development. In this context, there is an urgent need to promote the cultivation of financial culture with Chinese characteristics by combining the rule of ethics and the rule of law, and to help improve the behavioral norms, moral cultivation and innovation vitality of the financial team with the power of culture, which will help provide soft power support for China's participation in global financial competition and consolidate the cultural foundation for the construction of a financial power.

The financial culture with Chinese characteristics is the basic guarantee for effectively preventing and resolving financial systemic risks. Finance is a battleground for the great powers, financial security is an important part of national security, and maintaining financial security is of great significance to the peaceful development of the mainland. The Central Financial Work Conference clearly pointed out that risk prevention and control should be the eternal theme of financial work. The financial culture with Chinese characteristics emphasizes prudence and compliance with laws and regulations, which will build a strong spiritual line of defense for the prevention and resolution of financial risks. By cultivating a financial culture with Chinese characteristics throughout financial practice, we will standardize the code of conduct, reduce financial risks caused by violations of laws and regulations, consolidate the moral bottom line, reduce moral hazards, consolidate ideals and beliefs, and promote the transformation of spiritual strength into conscious behaviors to prevent and resolve risks. This is not only conducive to helping to block the subjective awareness that leads to financial risks, but also conducive to improving the behavioral ability to prevent and resolve financial risks.

Practical requirements for financial culture with Chinese characteristics

Adhere to the centralized and unified leadership of the Party Central Committee over financial work. The leadership of the Communist Party of China is the greatest advantage of the socialist system with Chinese characteristics, and it is necessary to strengthen the "four consciousnesses", strengthen the "four self-confidences", and achieve the "two safeguards", and effectively transform our institutional advantages into the cultivation efficiency of promoting the financial culture with Chinese characteristics. Adhere to and strengthen the party's overall leadership over financial work, improve the party's system and mechanism for leading financial work, and give full play to the role of the Central Financial Commission, the Central Financial Work Committee, and the financial committees and financial working committees of local party committees in the process of cultivating financial culture. Enhance political consciousness through education on ideals and beliefs, enhance the sense of discipline through comprehensive and strict governance of the party, promote the formation of a financial culture with Chinese characteristics, and forge a high-quality financial team with strong politics, ability and work style.

Adhere to the people-centered value orientation. Adhering to the people-centered development philosophy is a major principle that the CPC Central Committee requires the whole Party to firmly grasp on the road of Chinese-style modernization. The financial culture with Chinese characteristics should highlight this value orientation and advocate the practice of the mission of "the great man of the country". The high-quality development of finance must be based on safeguarding the fundamental interests of the people, improving people's livelihood and well-being, and benefiting all the people more and more fairly from the fruits of modernization.

Adhere to the financial services for the real economy as the fundamental purpose. The real economy is the foundation of the national economy, and finance is the blood of the real economy. Efforts will be made to build a modern financial institution and market system, dredge the channels for funds to enter the real economy, strive to improve the financial supply capacity and service quality, effectively strengthen high-quality financial services for major strategies, key areas and weak links, continuously improve the quality and efficiency of financial services for the real economy, realize a win-win pattern of high-quality development of the financial industry and the high-quality development of the real economy, and help promote the shaping of a financial culture that is upright and innovative.

Adhere to the prevention and control of risks as the eternal theme of financial work. Risk prevention and control is the basic premise for achieving development, and the construction of a financial power must comprehensively strengthen the construction of the financial supervision system, attach great importance to the contagion, concealment and destructiveness of financial risks, and effectively improve the effectiveness of financial supervision. Establish a risk disposal responsibility mechanism that is consistent with rights and responsibilities and compatible with incentives and constraints, improve the early correction mechanism for financial risks with hard constraints, and effectively prevent and resolve financial risks by grasping the relationship between rights and responsibilities, speed and stability. Through effective measures to prevent and resolve financial risks, we will promote the formation of a financial culture of "prudent and prudent, not eager for quick success", and further strengthen the awareness and ability to prevent and resolve financial risks with a financial culture of "steady and prudent, not eager for quick success".

Persist in promoting financial innovation and development on the track of marketization and rule of law. Financial innovation must give full play to the decisive role of the market in the allocation of resources and give better play to the role of the government. However, financial innovation should be based on a profound grasp of the laws governing financial development, and avoid unrealistic, lawless and indiscriminate innovations. This requires that by promoting legislation in key financial areas and emerging fields, strengthening the revision of existing laws and regulations, promoting the continuous improvement of the basic legal system in the financial field, and at the same time increasing the enforcement of the financial rule of law and zero tolerance for financial violations and regulations, so as to jointly provide a solid legal guarantee for market-oriented financial innovation. Through the practice of market-oriented and law-based financial innovation, we will better promote integrity and innovation and compliance with laws and regulations, and form a financial culture that continuously stimulates the vitality of market-oriented innovation under the framework of the rule of law.

Persist in deepening the supply-side structural reform of the financial sector. The supply-side structural reform of the financial sector aims to enhance the financial supply capacity and quality through the establishment of a diversified and professional financial product and service system, the creation of a financial institution system with division of labor and cooperation, and the construction of a well-structured financial market system. Financial institutions should embed cultural cultivation into supply-side structural reforms, so as to promote cultural cultivation and empower reform with cultural cultivation. By improving the modern financial enterprise system with Chinese characteristics, establishing a sound incentive and restraint mechanism, establishing a correct social value orientation and reflecting it in financial services, and promoting the formation of a corporate culture orientation of honesty and trustworthiness, seeking profit from righteousness, and compliance with laws and regulations, it provides a strong carrier foundation for the cultivation of financial culture with Chinese characteristics.

Adhere to the overall planning of financial openness and security. High-level opening-up is an inevitable choice for the high-quality development of China's financial industry, enhancing the global competitiveness of the financial industry, and enhancing the capacity of international financial governance. The world has entered a new period of turbulence and change, and the more open it is, the more important it is to pay attention to security, not only to better link the domestic and international markets and resources through steadily expanding high-level financial opening-up, so as to learn from and surpass the experience and achievements of global financial development, but also to improve the risk prevention and risk handling capabilities in the process of opening up, so as to achieve a dynamic balance between openness and security. Financial institutions should adhere to prudence and prudence, not rush for quick success, establish a correct social value orientation, and integrate it into the practice of coordinating financial openness and security, so as to inject cultural roots and soul into the realization of a dynamic balance between openness and security.

Adhere to the general tone of seeking progress while maintaining stability. The general tone of the work of seeking progress while maintaining stability is an important principle of our party's governance of the country. The report to the 20th National Congress of the Communist Party of China clearly pointed out that development is the first priority of the Party in governing and rejuvenating the country. To build a financial power, we must seek development, establish and improve a modern financial system with Chinese characteristics that is highly adaptable, competitive and inclusive, and provide high-quality financial services for economic and social development. At the same time, we must fully understand the grim situation in which the domestic and foreign economic environment is becoming increasingly complex, and the factors of instability and uncertainty are significantly increasing, and firmly guard the bottom line of preventing the occurrence of systemic financial risks. Security is the premise of development, and development is the guarantee of security. The high-quality development of finance should properly handle the relationship between stability and progress, development and security, promote the formation of a stable and prudent financial culture through financial practice, and achieve a win-win pattern of seeking progress through stability and consolidating stability through progress. (The author is the president of Nankai University)

Contributed by Chen Yulu

Editor-in-Chief: Qi Yue Editor: Naixin

Supervisor: Hou Yuefeng

Producer: Wang Yanan

Superintendent: Sood