The People's Bank of China, China Securities Regulatory Commission, and China Banking and Insurance Regulatory Commission jointly held a symposium
On October 16, the People's Bank of China, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission held a symposium, emphasizing the implementation of convenient exchange of securities, funds, and insurance companies, as well as the new tool of stock repurchase and increased holding for re-lending, to support the stable development of the capital market. The meeting called for financial institutions to increase credit support for the real economy, maintain reasonable growth of monetary credit, especially support financing for small and micro enterprises, ensure effective implementation of policies, boost market confidence, and promote sustained economic recovery
On the morning of October 16, the People's Bank of China, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission jointly held a symposium with major financial institutions to earnestly study and implement the spirit of the meeting of the Political Bureau of the CPC Central Committee on September 26, and to promote financial institutions to accelerate the implementation of recent financial increment policies. Pan Gongsheng, Secretary of the Party Committee and Governor of the People's Bank of China, Xiao Yuanqi, Member of the Party Committee and Deputy Director of the China Banking and Insurance Regulatory Commission, and Wang Jianjun, Member of the Party Committee and Vice Chairman of the China Securities Regulatory Commission, attended the meeting and delivered speeches. Xuan Changneng, Member of the Party Committee and Vice President of the People's Bank of China, presided over the meeting.
The meeting emphasized that financial institutions should earnestly implement the spirit of the meeting of the Political Bureau of the CPC Central Committee, take rapid actions, make good use of various incremental financial policies, and ensure the effective implementation of each policy. It is necessary to increase credit support for the real economy, maintain a reasonable growth in the total amount of monetary credit, and strengthen support for financing for small and micro enterprises. Enhance the implementation and transmission of interest rate policies, and solidly organize and carry out bulk adjustments to reduce the interest rates on existing housing loans. Implement two new tools, namely the convenient exchange between securities, funds, insurance companies, and the repurchase and increase of loans for stock repurchases, to support the stable development of the capital market. It is necessary to strengthen organizational leadership, establish special work mechanisms, focus on departmental coordination and business linkage, form a joint effort, maximize the policy effects, continuously boost market confidence, improve social expectations, effectively promote the sustained recovery and improvement of the economy, and promote the high-quality development of finance.
Officials in charge of Agricultural Bank of China, China Construction Bank, China Merchants Bank, CICC, and Jiashi Fund exchanged experiences. Relevant departments of the People's Bank of China, 21 national banks, and some securities and fund companies' officials attended the meeting. Major officials of the People's Bank of China's provincial branches participated in the meeting at the branch venues