"Since 20 17, we have concentrated on rectifying non-standard interbank wealth management and off-balance sheet business. Up to now, the scale of shadow banking has dropped by about 20 trillion yuan compared with the historical peak. The number of P2P online lending institutions actually operating in China has dropped from about 5,000 at the peak to 3 at present. The scale of lending and the number of participants have declined for 28 consecutive months. " Liu Fushou, the chief lawyer of China Banking and Insurance Regulatory Commission, disclosed a series of data at the routine briefing on the State Council policy held today.
In fact, China Banking and Insurance Regulatory Commission has made many great achievements in the tough battle against financial risks. In the next step, the CBRC will enhance risk awareness, adhere to the principle of risk-based supervision, estimate risks more comprehensively, prepare countermeasures more fully, and resolutely hold the bottom line that systemic financial risks will not occur.
Five major achievements have been made.
"In recent years, in accordance with the decision-making arrangements of the CPC Central Committee and the State Council, and under the command of the the State Council Financial Committee, the CBRC has taken various measures against the financial risks faced by the banking and insurance industries and achieved positive results. The tough battle to prevent and resolve financial risks has achieved great results, laying a solid foundation for effectively coping with the impact of the epidemic. " Liu Fushou said today.
It is reported that the risks of shadow banking continue to converge. Since 20 17, irregular interbank financial management and off-balance sheet business have been intensively rectified. Up to now, the scale of shadow banking has dropped by about 20 trillion yuan compared with the historical peak. Some international organizations and professional organizations spoke highly of China's efforts to fundamentally maintain the stability of the financial system by reducing the risks of shadow banking.
Liu Fushou also said that great progress has been made in the identification and disposal of non-performing assets. At the end of the third quarter, loans overdue by commercial banks for more than 90 days accounted for 80.2% of non-performing loans, and loans overdue by some banks for more than 60 days were all included in non-performing loans.
At the same time, the risk situation of Internet finance has been fundamentally improved. The number of P2P online lending institutions actually operating in China has dropped from about 5,000 at the peak to 3 at present. The scale of lending and the number of participants declined for 28 consecutive months.
Liu Fushou also said that financial crimes should be severely cracked down. Solid progress has been made in risk disposal, asset liquidation, recovery and loss recovery, and risk isolation of high-risk financial groups. Improve the supervision system of financial holding companies and make up for the blank of supervision. The risk management of high-risk financial institutions has achieved phased results.
Some people worry that the "grey rhinoceros" that threatens financial security has been brought under control. In the first three quarters, the proportion of new real estate loans to all new loans decreased by 3.7 percentage points compared with the same period of last year. Cooperate with local governments to resolve debt risks, while reducing stock risks, support local governments to regulate financing by issuing local government bonds. Over the past three years, banks and insurance institutions have increased their holdings of local government bonds 1 1 trillion yuan. Since the beginning of this year, faced with the impact of the COVID-19 epidemic, China Banking and Insurance Regulatory Commission, China has issued a series of rescue measures in a timely manner, making every effort to push the economy back to the normal cycle, planning ahead to deal with the risk rebound, closely monitoring and preventing external risk shocks, and effectively preventing major financial risks caused by public health emergencies.
Six countermeasures
"At present, China's financial risks tend to converge and are generally controllable," Liu Fushou said. However, due to various internal and external factors, it still faces some uncertainties and instability, so we must pay full attention to it and make a calm judgment.
According to the disclosure, in the next step, the CBRC will enhance its risk awareness, adhere to the risk-based supervision principle, estimate risks more comprehensively, prepare countermeasures more fully, and resolutely hold the bottom line that systemic financial risks will not occur.
Liu Fushou said that the China Banking Regulatory Commission will look forward to the rebound of non-performing assets in China. Supervise banks to classify real assets, truly expose non-performing assets, make full provision and speed up disposal. At the same time, strengthen internal control and risk management to prevent the rapid rise of new bad products.
At the same time, the CBRC will promote the reform and risk resolution of small and medium-sized banks in an orderly manner, compact the responsibilities of all parties, promote institutions of different types and risks in an orderly manner in accordance with the principle of "one enterprise, one policy", broaden the sources of funds for risk disposal and capital replenishment, and replenish capital through multiple channels.
Liu Fushou also said that the China Banking Regulatory Commission continued to improve the shadow banking supervision system and risk monitoring system, and persistently dismantled high-risk shadow banking business to prevent a rebound.
In addition, China Banking and Insurance Regulatory Commission is cracking down on illegal financial activities, resolutely rectifying various financial chaos and creating a clean and upright financial order.
Liu Fushou pointed out that the CBRC will strictly guard against external input risks, formulate risk response plans and reserve sufficient response measures.
It is particularly noteworthy that the China Banking and Insurance Regulatory Commission will also improve the regulatory framework covering all risks. Strengthen the penetrability, unity and authority of supervision, comprehensively incorporate financial activities into supervision according to law, and treat similar businesses and similar subjects equally.
(Article source: Southern Metropolis Daily)
(Editor: DF5 12)
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