BOC aims at enhanced risk control
Bank of China will strive to prevent and resolve risks in key areas such as local government debt and the real estate sector, helping ensure both overall economic development and security, said its chairman Ge Haijiao in an exclusive interview with Xinhua News Agency published on Wednesday.
Ge said that as for preventing and resolving local government debt risks, BOC will improve and diversify its debt resolution tools, actively support local governments in steadily resolving existing risks and strictly preventing new risks. In the meantime, it will help improve local governments' ability to independently raise funds by strengthening support for the local real economy, science-based and innovation-oriented enterprises, as well as small and micro enterprises.
To address risks in the property sector, BOC will strictly implement relevant policies and adhere to the principles of marketization and the rule of law, thus ensuring smooth and orderly financing for real estate enterprises. It will also proactively optimize the credit structure of the property sector and provide financial support for rental housing, village renewal and construction of affordable homes, Ge said.
Ge outlined the measures BOC will take to promote the construction of five major sectors emphasized by the Central Financial Work Conference in October — technology finance, green finance, inclusive finance, pension finance and digital finance.
BOC will fully support major technological research and the growth of strategic emerging industries including clean energy. At the same time, it will not ignore the financing needs for cleaner and more efficient use of traditional energy resources.
Yu Jinxin, an analyst of Minsheng Securities, said BOC has played a positive role in meeting the financing needs of emerging industries, which is an important responsibility of State-owned commercial banks.
In addition, Ge said that BOC will provide more support for improving basic financial services, financing for business entities, rural revitalization, financial consumer protection, risk prevention and control, and support mechanisms for inclusive finance.
It will also strengthen the close connection between financial services and digital production and lifestyles, and provide a comprehensive supply of pension financial services to meet diversified pension needs, Ge added.
First, please LoginComment After ~