Li Keqiang news conference passed three positive signal to financial sector

  Yesterday, Premier Li Keqiang met with Chinese and foreign reporters and answered questions on financial regulatory reform, development issues were explained。
In the context of promoting high quality economic development, strengthen the ability of financial service of the real economy, Prime Minister Lee conversation passed three positive signal to the financial industry: First, a more open and inclusive signal。   Prime Minister Lee said that in the past some of the "Internet +" business is always listed overseas, and now we have asked relevant departments to improve the system of measures in domestic market, they are welcome to return to A shares, while for innovative start-ups territory listed create a more favorable , in line with the law …。
  This statement consolidate the policy tone the Internet and other innovative start-ups in the market。 In 2018, the SFC system working meeting early this year, has proposed issuing and listing system reform, efforts to increase tolerance and adaptability of the system proposition。 At present, the Shanghai and Shenzhen Stock Exchange Commission and other departments and are actively promoting the work to revise and improve relevant systems。
Listed on the Internet and other innovative enterprises abroad through depositary receipts is expected to directly issue A shares, etc. return the territory; territory not yet listed on the stock market high-quality innovative companies will be landing on the premise of the conditions of the。
  At the same time, Prime Minister Lee said it would relax the access to services。 Including the lower limit or even abolish foreign ownership in banking, securities, fund management, futures, financial asset management companies, etc.。 Government work report reiterated that the revised policy orientation, the relevant regulations have also been in progress。   Whether it is to improve the system to make high-quality innovative companies listed on the domestic market or return from overseas markets, or lower the threshold of foreign participation in domestic financial markets, the aim is to improve China's financial markets, especially capital markets inclusiveness and openness, it carries more high-quality multi-market resources, resources, improve market competitiveness。   Second, we continue to adhere to the law of strict supervision signal。
  Prime Minister Lee pointed out that the recent regulatory authorities take initiative, to deal decisively, is to make these point-like non-proliferation risks, the stamp of "pustule" or to stamp, otherwise there is moral hazard。
He further said that there are similar problems in the future, but also firmly disposal。   In mid-2017, the capital market regulatory authorities crack down on price manipulation and insider trading, concentration and control universal insurance market, with the industry to carry out a special inspection of accounts, consolidation, financial markets, remove from the real economy needs highly leveraged business。 Transmissive supervision of the implementation of all financial services, forceful squeeze regulatory arbitrage。 Disposal of the use of energy and other Po insurance funds and short-law cases, such as the use of funds Ampang nested case the shareholding structure of the diversion of the banking system。   Regulation does not mean repression, but the root of the problem, classification disposal, be treated differently, it is necessary to eliminate financial ills due to lack of supervision of the formation, but also for the healthy development of the market set aside to expand space。
Burst pustule, is the protection of the entire financial system, the protection of rational financial activities。
  Li Keqiang similar problems in the future "will be firmly disposal," the statement, and "the merger is to prevent and avoid regulatory behavior," the interpretation, both said financial institutions, but also for investors and financial consumers say。
If you need financial activities from the real economy and the taste as "speculation money game", a few people may temporarily happy, but in the end it must be a multi-lose outcome。   Li Keqiang at the press conference noted that "market dynamics and the human spirit are mutually reinforcing."。
I believe that the same logic applies to the financial markets, must be strictly regulated by law to maintain a fair market order, strict supervision according to law guide the main reason to participate in all kinds of。   Third, there is sufficient capacity to guard against the risk of signal。
  Prime Minister Lee said that China has the ability to prevent, it will not appear systemic financial risks。 Because the fundamentals are good, but also robust financial operation。 He explained that China's bank capital adequacy ratio and provision coverage are higher than international standards。
Given the deposit reserve ratio at around 15%, which is equivalent to save more than 20 million yuan risk reserve。   He also explained the reasons for the initiative to reduce the fiscal deficit, one solid and reliable revenue – "stable and good to last year's economic, fiscal surplus than expected", "and the first two months of fiscal revenue has reached double-digit growth "; the second is an ample supply of pre tools to deal with – 'If the international response to the growing uncertainties, some domestic emergence of new risk points and an ample supply of tools'。
  From the beginning of 2018 the next three years to prevent and reduce the risk of one of the three major tasks。 We have to consider the adverse domestic factors, but also consider the adverse international factors, especially a full estimate of the current number of negative factors is difficult to predict。 On strategic "food first", "left FLAC"。
Promoting a drop by three to a meeting for the pilot of the supply-side structural reforms, major efforts to rectify the financial order, and take the initiative to reduce the leverage of the financial system, financial resources set aside to deal with disaster recovery and make the necessary policies and tools reserves, It is a concrete manifestation of this strategy。   Promoting reading:      。