The hottest national financial policy in 2017

2022-09-22
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National financial policy in 2017

What are the new policies in the financial industry and what are the noteworthy information about the financial policies. I have sorted out the national financial policy in 2017 for you. I hope you like it

on January 13, 2017, the people's Bank of China issued the notice on matters related to the macro Prudential Management of full caliber cross-border financing (Yin Fa [2017] No. 9), which further improved the macro Prudential Management Framework of full caliber cross-border financing with the integration of local and foreign currencies

In January, in order to ensure the centralized demand formed by cash injection before the Spring Festival, the people's Bank of China successively provided temporary liquidity support to several large commercial banks with a large amount of cash injection through temporary liquidity facility (TLF)

On January 23, the people's Bank of China reported to the financial and Economic Committee of the National People's Congress on the implementation of the 2016 China Rubber Industry Association's tire classification standards, tire label management regulations and the China Rubber Industry Association's tire label style currency policy at the second green tire safety week

on January 23, the people's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission, the China Insurance Regulatory Commission and the Poverty Alleviation Office jointly issued the notice on the evaluation of the effect of financial targeted Poverty Alleviation Policies (Yin Fa [2017] No. 19), giving full play to the positive role of the evaluation work in further improving financial services for targeted poverty alleviation

on February 17, the fourth quarter 2016 China's monetary policy implementation report was released

on February 27, the people's Bank of China, in accordance with the relevant system of targeted RRR reduction, assessed the financial institutions participating in the targeted RRR reduction in 2016 in support of "agriculture, rural areas and farmers" and small and micro enterprises, and dynamically adjusted their deposit reserve ratio according to the assessment results

On March 7, the people's Bank of China, together with the Ministry of industry and information technology, the CBRC, the CSRC and the CIRC, issued the guiding opinions on financial support for the construction of a manufacturing power (Yin Fa [2017] No. 58), further establishing and improving a diversified financial service system, vigorously promoting the innovation of financial products and services, and strengthening and improving financial support and services for the construction of a manufacturing power

on March 13, the opinions of the general office of the people's Bank of China on doing a good job in credit policy work in 2017 (Yin Ban Fa [2017] No. 48) was issued. Adhering to stability has led to the general tone of seeking progress in the tightening of resources and energy, focusing on improving the directional structural adjustment function of credit policy, promoting substantive progress in supply side structural reform, revitalizing the real economy and promoting the transformation and upgrading of economic structure, Guide the branches of the people's Bank of China and banking financial institutions to do a good job in credit policy work in 2017

On March 16, with the approval of the State Council, the members of the monetary policy committee of the people's Bank of China were adjusted. Ding Xuedong and Guo Shuqing served as members of the monetary policy committee, while Xiao Jie and Shang Fulin no longer served as members of the monetary policy committee

On March 29, the monetary policy committee of the people's Bank of China held its regular meeting for the first quarter of 2017

financial hot spots in 2017 ensure that systematic financial risks do not occur

prevention and control of risks are placed in a prominent position in 2017's financial policy

the central economic work conference proposed that we should put the prevention and control of financial risks in a more important position, resolve to deal with a number of risk points, focus on the prevention and control of asset foam, improve and improve regulatory capacity, and ensure that systemic financial risks do not occur

Zeng Gang, director of the banking research office of the Institute of finance of the Chinese Academy of Social Sciences, analyzed that since this year, house prices have risen rapidly in some cities, and housing loans have increased too fast, increasing financial risks. Some funds are out of real to virtual, and cross market, cross institution and leverage increase in the financial market, forming cross risks. Other symbols and definitions related to the experiment of metal fatigue testing machine are given by iso/r373. The interest rate hike of the Federal Reserve from large to small has a great impact on the global capital flow and exchange rate trend, and the external situation is relatively severe

"taken together, there will be a lot of uncertainty next year, and we must not take it lightly. Only by putting the prevention and control of financial risks in a more prominent position can we ensure the realization of the main tone of 'stability'." Zeng Gang pointed out

financial stability is the cornerstone of healthy economic development. Wen bin, chief researcher of China Minsheng Bank, said that in order to prevent financial risks, some measures have been taken, including the introduction of a series of real estate regulation policies in many places, the correction of leverage and maturity mismatches by some financial institutions, and the gradual inclusion of off balance sheet wealth management in the macro Prudential evaluation system. As the situation changes in the future, relevant measures may be further strengthened and refined to ensure that systemic financial risks do not occur

monetary policy is "robust and neutral"

the meeting proposed that monetary policy should remain robust and neutral, adapt to the new changes in the mode of money supply, adjust the money gate, strive to unblock the transmission channels and mechanisms of monetary policy, and maintain the basic stability of liquidity

"keeping the monetary policy steady and neutral means that it cannot be too loose or too tight. The goal of monetary policy is diverse, and we should achieve a balance in stabilizing growth, preventing risks, adjusting structure, promoting reform and so on." Lian Ping, chief economist of Bank of communications, said

Lian Ping said that the current downward pressure on the economy is still large, and monetary policy should be maintained to a certain extent, and liquidity should be reasonable and abundant, so as to promote steady economic growth. However, from the perspective of risk prevention, the existence of partial asset foam requires that monetary policy should not be too loose

from the perspective of money supply mode, due to the trend change of foreign exchange, the traditional money supply mode urgently needs new methods. Unlike the previous frequent adjustment of the reserve ratio, the central bank now increasingly adopts reverse repos, medium-term lending facilities (MLF) and other means to release liquidity and ensure the smooth operation of the financial market

Lian Ping believes that monetary policy should be flexible while maintaining stability. "There is great uncertainty in the international market in 2017. China's monetary policy should be flexible to deal with possible sudden changes and make emergency plans."

exchange rate elasticity has been strengthened and remained basically stable

recently, the RMB exchange rate has been under great pressure. With the "boots" of the Federal Reserve's interest rate hike landing, what will the RMB exchange rate be like in the future

the meeting proposed to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level while enhancing the flexibility of the exchange rate

"to enhance exchange rate flexibility is to continue to deepen the market-oriented reform of the exchange rate formation mechanism." Wen bin analyzed that without a certain elastic range, it is difficult to really find a reasonable equilibrium level of the RMB exchange rate. At present, the US dollar has strengthened against global currencies due to interest rate hikes, and it is normal for the RMB exchange rate to bear certain pressure. It cannot be ruled out that the trend of the US dollar will change in the future, and the possibility of the appreciation of the RMB against the US dollar cannot be ruled out. Moreover, the RMB exchange rate is not only pegged to the US dollar, but linked to a basket of currencies

exchange rate depends on economic fundamentals and is subject to market expectations. Zeng Gang stressed that at present, China's economic fundamentals have not changed, with abundant foreign exchange reserves, a surplus in foreign trade, and many supporting factors for the RMB exchange rate. "It is necessary to clarify to the market that we have the ability to maintain the basic stability of the RMB exchange rate in order to prevent the self realization of irrational expectations."

actively and steadily promote the reform of the financial supervision system

the reform of the financial supervision system is expected by all walks of life. The meeting proposed to conduct in-depth research and actively and steadily promote the reform of the financial supervision system

"how to prevent financial risks is closely related to the reform of the regulatory system." Zhaoxijun, deputy dean of the school of Finance and economics of Renmin University of China, said that at present, some areas where financial risks accumulate are blank spots that are not covered by regulation

in recent years, with the increasing intensity of financial innovation, the risks contained in various businesses across markets and institutions are more extensive, hidden and complex, and it is more difficult to identify and manage. From the sharp fluctuations in the stock market last year to the aggressive investment of insurance funds in the capital market this year, all fully illustrate the need for coordinated regulation

"it is necessary to build a macro prudential regulatory framework that is compatible with the current financial industry innovation and conducive to preventing systemic financial risks." Guotianyong, director of the China banking research center of the Central University of Finance and economics, said that the reform of the financial supervision system affects the overall situation. It should be actively and steadily promoted, and the plan should be fully demonstrated

with regard to financial reform, the meeting also proposed to deepen the reform of the multi-level capital market system, improve the governance structure of state-owned commercial banks, and orderly promote the development of private banks

"this is to better serve the real economy by improving and optimizing the structure and functions of the entire financial system." Guotianyong said

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