China Banking and Insurance Regulatory Commission Xiao Yuanqi: Risks in the financial sector are normal and risk control is key

Original title: Xiao Yuanqi of China Banking and Insurance Regulatory Commission: It is normal for the financial sector to have risks, but risk control is the key

On November 14, sponsored by the State Council Development Research Center, China Development ResearchbottomThe “China Development Forum 2020” hosted by the meeting was held in Beijing. Xiao Yuanqi, Chief Risk Officer and Director of the General Office of the China Banking and Insurance Regulatory Commission, attended the meeting and announcedSpeech。

Xiao Yuanqi said that the financial sector is a risk sector and it is normal for risks to arise. The key is to control risks at a reasonable level and avoid systemic risks and financial crises. As for the so-called high-risk financial institutions, the scale is actually relatively small and there are many corresponding risk resolution methods.

First of all, institutions need to save themselves, including the sale of impaired assets and the introduction of new onesinvestmentIncrease the level of capital, strengthenthe companyGovernance, etc. Especially for institutions with a relatively large scale and complex activities, self-help should be organized in advancemechanismAt the same time from the outside, you can also introduce new onesstrategyHelp for investorsOptimizeOperatingmanagement,FromCorporate governanceTo correct the organization from an angle, you can also use saving methods.

Speaking of the changes brought about by the global outbreak in the financial sector, Xiao Yuanqi pointed out that while the global unconventional easing policy has played a positive role, it has increased the vulnerability of the financial system. The marginal effect is diminishing and the political space is also being reduced.International financemarketUnder liquidity support, it rebounded and volatility increased.

Although the global economy emerged from the depression of the epidemic in the third quarter, the foundations were very unstable.LiabilitiesQuickly expanded table, major economiesfinancialSpending has increased significantly, huge debts and deficits are set to exacerbate budgetary imbalances and hampercurrencypolitics.newMarket economyFinancial instability has increased. Some emerging market countries have low growth,QualcommInflation, high and high deficitexternal debtSuperimposed on the impact of the epidemic, in the face of the outflow of capital,currencyDevaluation, Excessive leverage pressure.In addition, ultra-wide policies have also led to debt expansion,LeverGet up faster, step upsocietyThe contradiction between rich and poor.

Xiao Yuanqi believes that in the face of new changes and uncertainties in the current global financial market, there are still more complex environments and it is very urgent and important to build a resilient financial system.

(Article Source: Yiou)

(Responsible publisher: DF527)