CIRC Chief Discusses Shadow Banking

iFeng: 银保监会主席郭树清：继续拆解影子银行 遏制房地产泡沫化倾向

Guo Shuqing, Party Secretary of the People ’s Bank of China and Chairman of the Banking and Insurance Regulatory Commission, said at a symposium on “deepening financial reform and serving the development of the real economy” hosted by Nanchang Zhongzhi of the People ’s Bank of China. We have done a solid job in "six stability" and made concerted efforts to prevent and defuse financial risks and made substantial progress. The main manifestations are as follows:

The first is to accurately deal with illegal financial institutions and financial groups, and to rectify various violations in an orderly manner according to law; the second is to deal with the risks of shadow banking in an orderly manner and substantially reduce the size of cross-financial business; Activities, and continued to carry out special rectification of Internet financial risks; the fourth is to increase efforts to expose and dispose of non-performing loans in the process of supporting economic restructuring and effectively prevent traditional credit risks; the fifth is to strive to stabilize the overall economy and the leverage ratio of major sectors , Focus on reducing the level of debt ratio of state-owned enterprises; sixth, while resolutely curbing the increase, steadily resolve the risk of the local government's hidden debt stock; seventh, further suppress the financialization and bubble of real estate, stabilize housing prices, land prices and expectations; eight is positive Support small and medium-sized banks to deepen reforms to prevent risks and encourage multi-channel capital replenishment. Nine is to respond to external shocks securely and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.