The People's Bank of China held the 2023 Financial Market Working Conference

On February 10, the People's Bank of China held the 2023 Financial Market Working Conference. The meeting thoroughly studied and implemented the spirit of the 20th CPC National Congress and the deployment of the Central Economic Work Conference, implemented the requirements of the People's Bank of China's work conference, summarized the work of the People's Bank of China's financial market and credit policy in 2022, and arranged the deployment of key work in 2023. Pan Gongsheng, member of the Party Committee and Vice President of the People's Bank of China, attended the meeting and delivered a speech. Zhang Qingsong, member of the Party Committee and Vice President of the People's Bank of China, presided over the meeting.
The meeting held that in 2022, the People's Bank of China's financial market line will resolutely implement the decisions and arrangements of the Party Central Committee and the State Council, actively act and overcome difficulties, fully implement the economic stability package of policies and measures, strengthen financial support in key areas and weak links, deepen the reform and opening up of the financial market, promote the stable and healthy development of the financial market, and all aspects of work have made new hard-won achievements. 2023 is the first year to fully implement the spirit of the 20th National Congress of the Communist Party of China. It is necessary to timely analyze and judge the trend changes of economic and financial operation, effectively support the high-quality development of the real economy, actively prevent and control risks in key areas of the financial market, comprehensively promote the construction of the financial market operation mechanism, reform, development and stability, and ensure the efficient and stable operation of the financial infrastructure, We will provide strong and effective financial support for building a socialist modern country in an all-round way.
The meeting pointed out that we should improve the ability of financial services to expand domestic demand and build a modern industrial system, and support the acceleration of the construction of a new development pattern. We will do a good job in managing the duration of policy-oriented development financial instruments, special re-loans for equipment renewal and transformation and other policy instruments to stabilize the economy, and support the implementation and completion of the project. We will improve the policy instruments and mechanisms to support inclusive small and micro enterprises, green development, scientific and technological innovation, and accurately strengthen financial support in key areas and weak links. We will further implement the project to improve the financial service capacity of small and medium-sized enterprises, further improve the financing supporting mechanism, and promote the steady growth of inclusive small and micro loans. We will earnestly implement the "two unswerving principles", expand the support scope of private enterprise bond financing support tools (the "second arrow"), and promote financial institutions to increase the credit of private enterprises. We will strengthen financial services for the agricultural power, consolidate and expand the achievements of poverty alleviation, and continue to improve the ability of financial services to revitalize rural areas. The dynamic monitoring and analysis of the marginal changes in the real estate market, the implementation of differentiated housing credit policies, the implementation of 16 policies and measures to support the steady and healthy development of the real estate market, the active provision of financial services to guarantee the delivery of housing, the increase of financial support for housing leasing, and the smooth transition of the real estate industry to the new development model.
The meeting required that we should systematically study and promote the construction of the financial market system, accelerate the improvement of the financial market legal system and basic system, orderly promote the two-way opening of the financial market, and improve the ability to serve the real economy and prevent and resolve risks. We will strengthen the construction of market mechanisms such as bond underwriting, market making, and investor eligibility, accelerate the development of a multi-level market system, improve the macro-management of financial bonds, and improve the resilience of the bond market and the ability of market pricing. We will promote the smooth operation of the money market, continue to standardize the development of the bill market, strengthen the supervision and management of the gold market, and promote the steady development of the RMB derivatives market and the asset-backed securities market. We will improve the overall regulatory framework for financial infrastructure and further promote the opening up of the bond market and derivatives market. Promote the complete rectification of financial business of large platform enterprises, strengthen normalized supervision, and support the healthy and standardized development of platform enterprises. We will promote the introduction of regulations on the administration of corporate bonds and the revision of the Bill Law.
The meeting stressed that we should take the in-depth study and implementation of the spirit of the 20th CPC National Congress as the primary political task, unswervingly strengthen the Party's construction and comprehensively and strictly govern the Party, implement the requirements of the central inspection and rectification, and always adhere to the political and people-oriented nature of financial work. We should carry out in-depth research around key areas and take the initiative to strengthen policy coordination and cooperation. We should adhere to the principle of seeking progress while maintaining stability, coordinate development and security, strengthen forward-looking and trend control, make appropriate policy arrangements according to the time and situation, and promote the financial market and credit policy work to a new level in 2023.
The leaders of the People's Bank of China's Shanghai headquarters, branches, business management departments, provincial capital (capital) city center branches, sub-provincial city center branches, the relevant departments and bureaus of the head office, the credit investigation center, the foreign exchange trading center, the central clearing company, the Shanghai Gold Exchange, the dealers' association, the Shanghai Clearing House, the Internet Finance Association, and the Shanghai Bill Exchange attended the meeting at the main venue and the local branch venues respectively.