Effectively improve the effectiveness of financial supervision and properly deal with all kinds of financial risk challenges
Xinhua News Agency, Beijing, December 3 (Reporter Li Yanxia) The central financial work conference held at the end of October put forward higher requirements for doing a good job in financial supervision in the new era. Next, how to implement the spirit of the Central Financial Work Conference? How to effectively improve the effectiveness of financial supervision? In this regard, Xinhua News Agency interviewed Li Yunze, Party Secretary and Director of the State Financial Supervision and Administration.
Continuously improve the effectiveness of supervision
Q: The Central Financial Work Conference called for "effectively improving the effectiveness of financial supervision". How does the General Administration of Financial Supervision further improve the quality and efficiency of supervision?
A: The CPC Central Committee requires that the General Administration of Financial Supervision be responsible for the supervision of the financial industry except the securities industry, and strengthen institutional supervision, behavioral supervision, functional supervision, penetrating supervision and continuous supervision. Since the establishment of the General Administration of Financial Supervision, it has systematically reformed the organizational structure, integrated and optimized the allocation of resources, explored and improved the supervision methods, and strived to lay a good foundation for comprehensively improving the quality and efficiency of supervision. In the next step, we will focus on strong supervision and strict supervision, resolutely achieve "long teeth with thorns" and continuously improve the forward-looking, accurate, effective and synergistic supervision.
First, comprehensively strengthen the "five major supervision". Adhere to the risk-based principle, grasp access, grasp legal persons, grasp governance, and strengthen institutional supervision. Adhere to all kinds of financial activities in accordance with the law, protect the legitimate rights and interests of financial consumers, and strengthen behavior supervision. Adhere to the principle of "one business, one standard" and strengthen functional supervision. Adhere to the principle of "substance is more important than form" and strengthen penetrating supervision. Adhere to the whole cycle of financial institutions, the whole process of financial risks and the whole chain of financial business, and strengthen continuous supervision.
The second is to strictly enforce the law and dare to show the sword. In-depth rectification of financial market chaos, so as to adhere to principles, dare to face difficulties, treat people equally, and be fair and just. Focus on the "key things" that affect financial stability, "key people" that cause major financial risks, and "key behaviors" that undermine market order, and really hit the board accurately and hurt. In conjunction with relevant departments, we will seriously deal with illegal third-party intermediaries. Strengthen the linkage between supervision and trial, the convergence of execution, and the integration of discipline and law, and effectively increase the cost of violating laws and regulations.
The third is to strengthen supervision and protection. Further improve the financial rule of law, do a good job in the "reform and abolition" of laws and regulations, keep pace with the times, improve prudential supervision rules, and tighten the "iron fence" of the system. Accelerate the supervision of the construction of big data platforms, make full use of scientific and technological means, and quickly and effectively identify and accurately lock financial risks. At the same time, we will stick to the cutting edge inward, strengthen the supervision of supervision, and earnestly "strike while the iron is hot."
Achieve full coverage of financial supervision
Q: The Central Financial Work Conference emphasized "eliminating regulatory gaps and blind spots". How do you understand this? What is the focus of the next step?
A: Achieving full coverage of financial supervision is an inevitable requirement for comprehensively strengthening financial supervision. Initially, the essence of full coverage includes three aspects: First, it is more important to control the illegality, and always adhere to the principles of financial franchising and licensed operation. Second, the management industry must manage risks and strictly guard against the alienation of general commercial activities into illegal financial activities and the derivation of financial risks. Third, the General Administration of Financial Supervision took the lead in establishing a bottom-up supervision mechanism. This is an important institutional arrangement to achieve full coverage and an important task clearly deployed by the CPC Central Committee. We are duty-bound to resolutely carry the burden with iron shoulders.
In the next step, under the overall leadership of the Central Financial Committee, the General Administration of Financial Supervision will work together to build a full-coverage financial supervision system and mechanism, so as to share the same responsibility, answer the same questions and work in the same direction to ensure that there are no dead ends, blind spots and exceptions in supervision. Mainly includes:
First, the central financial management departments divide their troops to guard their respective regulatory fields, not only to control "illegal driving" but also to control "driving without a license". Second, the competent department of the industry should prevent and cooperate with the disposal of illegal financial activities in this field within the scope of its duties. Third, relevant functional departments strictly control registration, advertising and marketing, and resolutely prevent financial chaos. Fourth, the General Administration of Financial Supervision will take the lead in establishing a regulatory responsibility attribution claim mechanism and a bottom-up regulatory mechanism to ensure that all financial activities, especially illegal financial activities, are watched, managed and held accountable. Promote the clarification of the ownership of regulatory responsibility for financial activities such as cross-sectoral and cross-regional and new formats and new products. If it is really difficult to define the responsibility, the General Administration of Financial Supervision shall be responsible for the bottom.
Effectively prevent and resolve financial risks
Q: The Central Financial Work Conference pointed out that "there are still many hidden dangers in economic and financial risks" and demanded that "the risks of small and medium-sized financial institutions should be handled in time". How will the General Administration of Financial Supervision implement it?
A: Risk prevention and control is the eternal theme of financial work. For the current financial risks, we should not only face up to the difficulties, but also strengthen our confidence. China has unique political and institutional advantages. At the same time, its economy has strong resilience, great potential and full vitality, and its long-term positive fundamentals have not changed. This is our greatest confidence, guarantee and support for preventing and resolving financial risks.
At present, China’s financial industry is generally stable and has strong overall risk resistance. By the end of the third quarter of this year, the non-performing loan ratio of commercial banks was 1.61%, the provision coverage ratio was 207.89%, the capital adequacy ratio was 14.77%, and the comprehensive solvency adequacy ratio of the insurance industry was 194%. We are fully confident, qualified and capable of increasing vitality through reform, solving problems through development and increasing inventory to properly cope with various financial risk challenges.
In the next step, we will adhere to goal orientation and problem orientation, resolutely fight tough battles and protracted wars, with the focus on accelerating the reform of small and medium-sized financial institutions. First, adhere to a safe and orderly manner. Seize the current favorable opportunity, adhere to the principle of marketization and rule of law, and intensify efforts to promote risk disposal. Grasp the timeliness and efficiency, fully consider the affordability of institutions and markets, carry out work in a planned and step-by-step manner, and effectively prevent the risk of handling risks. The second is the precise policy of classification. Give full play to professional advantages, strengthen guidance and coordination, and promote "one province, one policy", "one line, one policy" to formulate risk disposal plans to avoid "one size fits all". The third is to deepen both the symptoms and the root causes. Promote small and medium-sized banking institutions to optimize their structure, improve quality and increase efficiency. We will promote the return of insurance companies to their original sources, highlight their security functions, and guide institutions such as asset management and non-banking to stick to their positioning and differentiated development.
Be a staunch defender of the legitimate rights and interests of financial consumers
Q: The Central Financial Work Conference emphasized "adhering to the people-centered value orientation". What are the key ideas and measures of the General Administration of Financial Supervision in doing a good job in consumer protection?
A: Doing a good job in protecting the rights and interests of financial consumers is a concentrated expression of the political and people-oriented nature of financial work. This institutional reform clearly requires that the General Administration of Financial Supervision be responsible for the overall protection of the rights and interests of financial consumers, which is the trust and trust of the CPC Central Committee and the political mission that the General Administration of Financial Supervision must undertake. We will firmly establish the concept of "supervision for the people", always take safeguarding the fundamental interests of the overwhelming majority of the people as the starting point and the end result of supervision work, solve the urgent problems of the masses with heart and affection, and be a firm defender of the legitimate rights and interests of financial consumers. In the next step, we will focus on four aspects:
First, speed up the construction of the "big consumer protection" work pattern. We will promptly establish and improve the coordination mechanism for the protection of financial consumers’ rights and interests and the diversified solution mechanism for financial consumption disputes, compact the main responsibilities of financial institutions, and promote the construction of a clear, efficient and smooth consumer protection system.
The second is to grasp the key of appropriateness management. Improve the appropriateness management methods and operating procedures, and urge financial institutions to strictly implement the "three appropriateness" requirements of financial products, sales channels and target customers. Improve the information disclosure system of financial products, promote financial institutions to do a good job in evaluating customers’ risk preferences, and severely crack down on false propaganda and misleading sales.
The third is to smooth the channels and implement grading management. Establish a financial consumer complaint reporting process and standard system, formulate "effective complaints" identification standards and screening methods, and improve the "transfer, acceptance and handling" processing mechanism to ensure that the reasonable demands of the masses are promptly responded and properly resolved.
The fourth is to address both the symptoms and the root causes and resolve outstanding contradictions. Focusing on the relatively concentrated areas of complaints such as insurance surrender, credit card complaints, auto insurance claims, and early repayment of personal housing loans, we will systematically study solutions and strengthen source management. At the same time, strengthen the publicity and education of financial consumers and improve the financial literacy of the whole society.




















































