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Govt to promote comprehensive statistics in financial sector

Updated: Apr 9,2018 6:23 PM

The State Council on April 9 released a circular of guiding opinion on promoting comprehensive statistics work in the financial sector to enhance services to the real economy, improve the financial regulation system and avoid systematic financial risks.

The aim is to build a scientific and comprehensive financial statistical mechanism, with improved standards and work covering all financial sectors, infrastructures and activities, while setting up the State finance database.

Statistics work should bring in a unified principle of definition, specification, classification, evaluation and encoding for better sharing of statistical information, the circular stated.

The circular stressed effective statistics of financial activities involved in more than one industry, market, and department.

It also urged tailoring statistical mechanisms for important financial institutions to timely detect major potential risks, and for financial holding companies to sense both intra-group transactions and external risk contagion.

Also, efforts should be made to compile the statement of assets and liabilities in the financial sector, complete statistics on financial capital flow and stock, intensify foundation for monitoring macro-economic leverage ratio, and improve statistics on monetary credit, the circular stated.