The latest issue of the Communist Party journal Qiushi has an article on the financial system: "Unswervingly Follow the Path of Financial Development with Chinese Characteristics" (坚定不移走中国特色金融发展之路).
The article is published jointly under the names of the General Office of the Central Financial Commission and the Central Financial Work Commission.
The Central Financial Work Commission (中央金融工作委员会) is the Party body responsible for party work (party-building, ideology, discipline and inspection, etc.) in the financial system. The General Office of the Central Financial Commission (中央金融委员会办公室) is the working (administrative) body of both this commission as well as the Central Financial Commission (中央金融委员会), which is responsible for financial stability and financial system development.
The article outlines the Party's goals, assessment, what it supports and opposes, principles and approaches, and strategies and policies concerning the financial system.
- Facilitate the financial system to support national modernisation.
- Advance the plan to support national rejuvenation with financial innovation.
Assessment of the financial system
- Critical ("foundation" and "bloodlines") to the real economy.
- Important force for Chinese-style modernisation and national rejuvenation.
- Must service the real economy to realise high-quality development.
- Innovation and development must be on the track of marketisation and legalisation.
- An essential factor in national governance and social stability.
- The purpose of finance is to support the real economy.
- Financial innovation that conforms with market logic and the law.
- Structural reform of the sector on the supply side.
- Coordinating financial openness with security needs.
- Strengthening financial supervision and effectively neutralising financial risks.
- High-quality development of the financial system.