China Banking and Insurance Regulatory Commission: Support local governments to ensure the delivery of buildings and stabilize people’s livelihood to promote the stable and healthy development of the real estate market
As one of the important activities of this year’s Service Trade Fair, the main forum on financial services – the 2022 China International Finance Annual Forum was held in Beijing on September 2. Zhou Liang, vice chairman of the China Banking and Insurance Regulatory Commission, said that a virtuous circle of finance and the real economy has gradually formed, and it is necessary to adhere to the overall development and security, and firmly guard the bottom line of no systemic risks.
Data show that as of the end of June this year, the total assets of my country’s banking industry were 367.7 trillion yuan, ranking first in the world. The total assets of the insurance industry are 26.6 trillion yuan, ranking second in the world. In the past five years, the average annual growth rate of credit in the banking industry has been 11.8%, which is about 4 percentage points higher than the average annual growth rate of assets.
Zhou Liang, Vice Chairman of the China Banking and Insurance Regulatory Commission: The asset structure is more in line with the needs of the real economy, and the average annual growth rates of inclusive small and micro enterprise loans and agriculture-related loans have reached 25.5% and 14.9% respectively. As of the end of June this year, the balance of manufacturing loans was 26 trillion yuan, and critical illness insurance had covered 1.22 billion urban and rural residents. The coverage rate of basic financial services exceeds 99%.
Zhou Liang pointed out that it is necessary to balance the relationship between stable growth and risk prevention. On the premise of maintaining the overall stability of the economy, risks should be disposed of in an orderly manner, the risks of small and medium-sized financial institutions should be prudently resolved, and local governments should issue special bonds to supplement the capital of small and medium-sized banks. to improve the monitoring and disposal of debt risks of large enterprises.
Zhou Liang, Vice Chairman of the China Banking and Insurance Regulatory Commission: To ensure the stable and orderly real estate financing, support local governments to ensure the delivery of buildings, stabilize people’s livelihood, promote the stable and healthy development of the real estate market, strengthen financial legislation and system construction, promote the construction of supervision big data platform, optimize supervision coordination mechanism, improve supervision efficacy.
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