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Vice-premier stresses financial system in real economy

Updated: October 20, 2021 21:48    Xinhua

BEIJING — The financial system needs to be more proactive in serving the real economy, supporting green and low-carbon development, and promoting high-level opening-up, Vice-Premier Liu He said on Oct 20.

Liu, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in a written speech at the opening ceremony of the 2021 Annual Conference of Financial Street Forum held in Beijing.

The financial system should properly handle monetary policy adjustments and redouble efforts to financially support the private sector and small and micro businesses, he noted.

Liu said the financial system should support the clean and efficient use of coal, and the development and use of new energy, help safeguard energy security, and meet the country's carbon commitment to peak carbon emissions before 2030 and achieve carbon neutrality before 2060.

He also highlighted the financial system's role in creating a fair market environment and protecting the legitimate rights and interests of foreign-funded institutions in China.

The financial system should attach greater importance to fintech, improve the quality and efficiency of financial services, and strengthen supervision, he said.

He called for coordinated efforts to prevent and control financial risks.

There are individual problems in the real estate market, but the risks are generally under control, and the reasonable capital demand of the property market is being met, Liu said, adding that the overall trend of the healthy development of the real estate market will not change.