Xinhua News Agency, Beijing, January 18th (reported by Pooping Liu and Xueyan Su) - Chairman of the China Banking Regulatory Commission (CBRC), Mingkang Liu, emphasized on the 18th that banking and financial institutions should prudently formulate cross-border and cross-sector development strategies. On the premise of clarifying comprehensive business strategies, improving consolidated management, and strictly controlling risks, they should cautiously carry out comprehensive business pilots.
Mingkang Liu pointed out at the CBRC's first economic and financial situation briefing in 2011 that banking and financial institutions should actively promote system reform and development transformation, and make every effort to start the "Twelfth Five-Year Plan". Under the guidance of the scientific development concept, promote the strategic development transformation of the banking industry; with the improvement of corporate governance and enhancement of risk management capabilities as the core, build a good risk management culture; based on the actual situation of domestic banking, fully implement the results of international financial regulatory reforms.
Mingkang Liu said that since the "Eleventh Five-Year Plan", China's banking industry has made remarkable progress, and the achievements in responding to the international financial crisis have been effectively consolidated. However, the domestic and international economic and financial situations remain very complex, the changes in the mechanisms and systems of the banking industry are only phased, and the challenges and difficulties faced by the banking industry are still arduous.
Mingkang Liu emphasized that banking and financial institutions must firmly adhere to the prudent bottom line, comprehensively analyze industry risks, and further enhance their overall risk management capabilities and levels. Adhere to promoting the scientific development of the real economy, effectively support consumption development, set reasonable differentiated strategies, and meet various consumer demands with the ability to bear costs.
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