久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

Make me your Homepage
left corner left corner
China Daily Website

Financial reform 'key move'

Updated: 2013-11-12 02:48
By LI YANG ( China Daily)

Experts expect breakthroughs to meet China's economic upgrading

That Premier Li Keqiang compared China's financial reform to "a key move of a chess piece to revitalize the whole game of the Chinese economy" at the Summer Davos Forum in Dalian this August exemplifies the reform's significance to the Chinese economy.

Financial system reform has maintained a positive momentum since the 18th National Congress of the Communist Party of China last year, which reiterated marketization as the preferred direction for reform.

Financial reform 'key move'

As an example of increasing marketization and reform, the People's Bank of China, the country's central bank, lifted its control of loan interest rates on July 19 after broadening the fluctuation ranges of loan and deposit interest rates last year.[provided to china daily]

The People's Bank of China, the country's central bank, said it lifted its control of the floor on loan interest rates on July 19 after broadening the fluctuation ranges of loan and deposit interest rates last year.

The State Council, China's cabinet, decided on Aug 28 to expand the pilot programs of credit asset securitization, which will help foster a multilayer capital market and vitalize the monetary stock. And China rebooted the trading of treasury bond futures on Sept 6.

In addition, the China (Shanghai) Pilot Free Trade Zone set up on Sept 29 will provide a good platform to try out the much-needed reforms of interest rates and convertibility of yuan capital accounts.

Financial reform 'key move'

CPC?Third Plenary Session

Finally, China's concentrated quotation and disclosure mechanism of the loan prime rate was launched on Oct 25.

Following these actions, experts say, resistance to reform of the financial system reform is now less than to reforms of land, the household registration system and State-owned enterprises, as the financial system's marketization is comparatively higher than the latter fields and the return more palpable.

The Third Plenum of the Communist Party of China's 18th Central Committee from Nov 9 to 12 is expected to introduce breakthroughs in the market-oriented financial reform, given China's current system's potential to meet the needs of structural shift and industrial upgrading.

A plan submitted on Oct 26 by the Development Research Center of the State Council, a top government think tank, to the CPC Central Committee, prioritizes financial reform in eight fields.

The ambitious plan, believed to be a blueprint for the plenum's final communique, also stresses five key reforms.

The first addresses the structures of property rights and management of financial agencies by lowering the entry threshold to boost financial market competition.

The second promotes the marketization of interest rates and exchange rate formation.

The third establishes an efficient and flexible market-oriented financial system to support a growth model shift and urbanization.

The fourth should solve and manage potential financial risks by administrations and institutions.

And the fifth coordinates fiscal and tax reform, and factors price reform to maximize the synergistic effects.

The previous financial system reform focused mainly on micro-financial agencies.

Experts believe the new reform will pay more attention to establishing relevant institutions, creating a better financial market environment, improving financial resources' allocation efficiency and underscoring the financial sector's support for the real economy.

"I think the Third Plenum will draw up a top-level design and an overall plan to carry on the market reform momentum of the financial sector and integrate previous patchworks in various fields," said Zhao Qingming, a senior researcher at the China Construction Bank.

Removing the systematic barriers to allocating financial resources in the market are the targets of the next round of financial reform in order to release the vitality of the financial system, disperse financial risks and give powerful support to the real economy.

Hu Xiaolian, deputy governor of the People's Bank of China, recently indicated the three missions of liberalizing the interest rate: to set up a self-disciplinary mechanism for the pricing of the market-oriented interest rate; start the loan prime rate quotation; and promote the issuance and trade of inter-bank deposit receipts. Now that the first two have been accomplished, the next step is to end the control over the deposit interest rate.

With the central government pledging to push private capital to enter the financial industry, and some private enterprises actively applying to start private banks, that capital will probably have more access to the banking industry after the plenum.

Thus, the cash-thirsty private enterprises can get more financial support through direct financing. And room for covert deals and shadow banks will grow smaller and smaller.

Wang Jinbin, an economic researcher at Renmin University in Beijing, pointed out, "Private capital's entry into the financial sector is an irresistible trend for China, which is conducive to injecting vitality into the financial agencies and improving the financial industry's support to the real economy."

On the external side, the People's Bank of China's intervening in the yuan exchange rate fluctuation will obviously weaken, and its tolerance to the fluctuation range will grow stronger.

The reform plan sets the target that the yuan should become the main international settlement and investment valuation currency and international reserve currency in other parts of the world.

The trend indicates that the PBOC will continue to guide and encourage the market to play a more active role in pricing the exchange rate to foster yuan capital account convertibility and the internationalization of the yuan.

Last but not least, in order to adapt to the potential risks that come with the marketization of China's financial sector and the merging of finance and the Internet, the government must further strengthen its supervision and administration.

The State Council agreed in August to establish an inter-ministerial joint conference mechanism on financial supervision, which will be led by the People's Bank of China and involve the banking, securities, insurance and foreign exchange authorities.

This is a crucial step for the modernization of China's financial watchdogs in that it highlights the coordination of financial supervision across the board, which has long been absent in China.

The plenum will necessarily urge the upgrading of the financial supervision system. The supervisory and regulatory authorities' focus will divert from pre-entry evaluation and approval to the supervision of the financial agencies, private banks and Internet finance.

To translate the liberalization of the financial sector to real benefits for the economy, China urgently needs to establish a deposit insurance system, create an information disclosure system for financial agencies and raise investors' awareness of risk prevention.

Contact the writer at liyang@chinadaily.com.cn

 
...
Hot Topics
...
...
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    57pao国产成永久免费视频| 国产911在线观看| 国产免费裸体视频| 中文久久久久久| 久久综合久久网| 色噜噜狠狠一区二区三区狼国成人| 精品久久一二三| 国产91porn| 中文字幕资源在线观看| 91传媒久久久| 国产成人生活片| 亚洲这里只有精品| 国产美女无遮挡网站| 欧美视频在线第一页| 91精品999| 国产乱子夫妻xx黑人xyx真爽| 国产精品无码电影在线观看| 天天看片天天操| 动漫av免费观看| 国产青青在线视频| 97中文字幕在线| 中国 免费 av| www.午夜av| 粉色视频免费看| 久久精品网站视频| av7777777| 真人抽搐一进一出视频| 蜜臀av性久久久久蜜臀av| 激情在线观看视频| 中文字幕亚洲欧洲| 亚洲77777| 牛夜精品久久久久久久| 国产真实乱子伦| 免费一级特黄特色毛片久久看| xxxxxx在线观看| 99亚洲国产精品| 久久久久久久久久久久久国产| 午夜在线视频免费观看| 国产欧美一区二| 亚洲视频第二页| 亚洲 国产 图片| 亚洲午夜激情影院| 亚洲精品性视频| 亚洲美女性囗交| 中文字幕 欧美日韩| 制服丝袜中文字幕第一页 | 亚洲第一区第二区第三区| 嫩草影院国产精品| 天天操天天爱天天爽| 国产嫩草在线观看| 性生活免费在线观看| 中文字幕 日韩 欧美| 婷婷中文字幕在线观看| 欧美一级小视频| 91制片厂免费观看| 欧美a级免费视频| a级黄色小视频| 春日野结衣av| 999精彩视频| 手机精品视频在线| 日本黄网站色大片免费观看| 成人av在线播放观看| 久久久久久久中文| 看欧美ab黄色大片视频免费| 超碰成人在线播放| 麻豆一区二区三区在线观看| 一本久道高清无码视频| 免费无码av片在线观看| 天天操天天爱天天爽| 超碰91在线播放| 激情五月婷婷六月| 免费无码av片在线观看| 人人干人人干人人| 日韩欧美一区三区| 黑森林福利视频导航| 国产欧美一区二| 欧美这里只有精品| 蜜臀av午夜一区二区三区| 亚洲一区日韩精品| 男女爱爱视频网站| 国产免费观看高清视频| 一路向西2在线观看| 成人在线免费观看网址| 日日橹狠狠爱欧美超碰| 中文久久久久久| 51xx午夜影福利| 成人免费毛片网| 中文字幕第一页在线视频| 激情小视频网站| 91看片在线免费观看| 久久www视频| 91网址在线播放| 特级西西444| 日本成人中文字幕在线| 国产树林野战在线播放| 黑森林福利视频导航| 亚洲制服在线观看| 337p粉嫩大胆噜噜噜鲁| 91日韩精品视频| 国产深夜男女无套内射| 国产5g成人5g天天爽| 欧美网站免费观看| 中文字幕综合在线观看| 99热成人精品热久久66| 青青草免费在线视频观看| 玩弄japan白嫩少妇hd| 国产福利片一区二区| 欧洲av无码放荡人妇网站| 糖心vlog在线免费观看| 麻豆一区二区三区视频| 免费毛片网站在线观看| 亚洲天堂一区二区在线观看| 欧美黄网站在线观看| 热久久最新地址| 91高清国产视频| 欧美牲交a欧美牲交aⅴ免费下载| 佐佐木明希av| 久热在线视频观看| 97国产在线播放| 影音先锋男人的网站| 中文字幕亚洲乱码| 欧美一级在线看| 激情五月婷婷六月| 永久av免费在线观看| 免费黄色特级片| 国产二级片在线观看| 日本a级片在线播放| 日韩 国产 一区| 色www免费视频| 无码日韩人妻精品久久蜜桃| 黄色大片中文字幕| 日本五级黄色片| 欧洲金发美女大战黑人| 欧美一级特黄aaa| 欧美成人福利在线观看| 日韩福利视频在线| 欧美黄网站在线观看| 久久久久久久久久网| 4444亚洲人成无码网在线观看| 五月天色婷婷综合| 人人爽人人爽av| 五月花丁香婷婷| 色www免费视频| 91欧美视频在线| 日本特黄a级片| 日本人视频jizz页码69| 亚洲国产一二三精品无码 | 97干在线视频| 日本大胆人体视频| 国产午夜精品视频一区二区三区| 香蕉视频色在线观看| 国产高清av片| www.com污| 亚洲色图欧美自拍| 日本成人xxx| 1314成人网| 青少年xxxxx性开放hg| 在线播放 亚洲| 成年人三级视频| 国产爆乳无码一区二区麻豆| 国产91沈先生在线播放| 亚洲理论电影在线观看| 国产日韩av网站| 欧美色图色综合| 任你操这里只有精品| 国产精品拍拍拍| 三区视频在线观看| 深爱五月综合网| 免费的av在线| 欧美精品一区二区三区三州| 少妇性饥渴无码a区免费| 免费国产成人av| 亚洲精品手机在线观看| 红桃视频一区二区三区免费| mm131午夜| 日本十八禁视频无遮挡| caoporn超碰97| 在线免费观看av网| 妺妺窝人体色www看人体| 欧美日韩一道本| 亚洲国产精品三区| 国产免费色视频| 亚洲 自拍 另类小说综合图区| 久久精品免费一区二区| 激情五月俺来也| 欧美日韩中文字幕在线播放| 日韩欧美一区三区| 久久婷婷综合色| 草草草视频在线观看| 国产日产欧美视频| 中文字幕第17页| 国产精品igao激情视频| 热久久精品国产| 天天做天天爱天天高潮| 日本a在线免费观看| 五月婷婷六月丁香激情| 美女av免费观看| 无码人妻精品一区二区三区66| 天天综合中文字幕| 久久国产成人精品国产成人亚洲 |