Take china's special financial development path and build a financial power
The 3rd issue of the magazine no. 1 february, published by xinhua news on january 31, beijing, will publish a major article by the general secretary of the cpc, the president of the state and the president of the central military commission, xi jinping, " towards a china-specific financial development path and building a financial power " 。
The article stresses that since the 18th anniversary of the party, we have actively explored the financial development patterns of the new era, continuously deepening our understanding of the socialist financial nature of china's specialty, continuously promoting innovation in financial practices, theoretical innovation, institutional innovation, and gaining valuable experience, gradually moving beyond a chinese specialty financial development path. First, the central leadership of the party in financial matters should be centralized. Secondly, the people-centred orientation of values should be upheld. Thirdly, the financial services real economy has been maintained as a fundamental purpose. Fourthly, risk prevention and control should be the permanent theme of financial work. Fifth, to insist on advancing financial innovation on the path of marketization and rule of law. Sixth, to insist on deepening structural reforms on the financial supply side. Seventh, to maintain an integrated approach to financial openness and security. Eighth, stick to the overall tone of the drive. These articles clarify how the new era of finance is viewed and done, and are an integral part of the basic position, perspective and methodology that characterizes china's unique path to financial development. China's special financial development path follows the objective pattern of modern financial development and is more tailored to the country's circumstances. It is fundamentally different from the western financial model. It is important to be confident and continue to explore and refine in practice, so that the road is wider。
The article states that financial powers should be based on a strong economic base, with economic power, scientific and technological power and combined national power ahead of the world, along with a set of key core financial elements. One is a strong currency, widely used in international trade investment and foreign exchange markets, with global reserve currency status. Second is a strong central bank with the capacity to manage monetary policy and macroprudential management and to protect against systemic risks in a timely and effective manner. Third is strong financial institutions, efficient operations, strong risk resistance, comprehensiveness, global layout and international competitiveness. Fourth is the existence of a strong international financial centre capable of attracting global investors and influencing international pricing systems. Fifth is strong financial regulation, sound financial rule of law and strong voice and influence in international financial rule-making. Six is a strong financial talent。
According to the article, building a financial power requires accelerating the construction of a modern financial system characterized by china. One is a scientifically sound system of financial regulation, the other is a well-structured financial market system, the other is a coordinated system of financial institutions, the other is an adequate and efficient system of financial regulation, the other is a diversified system of specialized financial products and services and the other is an autonomous, secure and efficient financial infrastructure system。
The article states that the promotion of high-quality financial development and the building of financial power must be combined with the rule of law and the rule of law. China's traditional culture of excellence should be vigorously promoted and china's distinctive financial culture actively fostered. - be honest and keep your word. The other is to profit, not to profit. Three needs to be careful, not short-lived. Four have to be positive and true. Five must comply with the law and do nothing。
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