Promoting Market Regulation with Scientific and Technological Progress
According to reports, Zhu Shumin, member of the CPPCC National Committee and former vice chairman of the China Banking and Insurance Regulatory Commission, said
According to reports, Zhu Shumin, member of the CPPCC National Committee and former vice chairman of the China Banking and Insurance Regulatory Commission, said during the discussion of the draft amendment to the Constitution of the CPPCC and the State Council’s institutional reform plan in the economic circles of the CPPCC National Committee, that we are optimistic about the capacity of the super-scale market. At present, we should strengthen the sense of urgency to implement the new development concept and build a new development pattern, and plan policies to accelerate the smooth internal circulation from the market perspective. To deal with financial risks, we should not only grasp the current situation, but also focus on the long-term. For example, small banks are the most active cells in the market economy. When risks arise, they should not be simply integrated. They should fully analyze the advantages and disadvantages before taking disposal measures. This institutional reform in the financial sector has filled the gap in market regulation. I hope it can be actively and steadily promoted, focusing on how to combine regulatory efficiency with scientific and technological progress and productivity development. (Securities Times)
Zhu Shumin, member of the National Committee of the Chinese People’s Political Consultative Conference, said that institutional reform in the financial sector has filled the gap in market regulation
Analysis based on this information:
Zhu Shumin, a member of the CPPCC National Committee and former vice chairman of the China Banking and Insurance Regulatory Commission, recently discussed the draft amendment to the Constitution of the CPPCC and the State Council’s institutional reform plan. During this discussion, he highlighted the importance of strengthening the sense of urgency to implement the new development concept and building a new development pattern. This involves planning policies to accelerate the smooth internal circulation from the market perspective, in order to fully utilize the capacity of the super-scale market.
In terms of financial risks, Zhu emphasized the need to both understand the current situation and consider the long-term implications. Specifically, he stated that small banks are important cells in the market economy and, when risks arise, their advantages and disadvantages should be analyzed before disposal measures are taken. In this way, the institutional reform in the financial sector can fill gaps in market regulation.
To promote this institutional reform, Zhu emphasized the need to focus on combining regulatory efficiency with scientific and technological progress and productivity development. By doing so, market regulation can become more efficient and effective, and the market can be better equipped to handle potential risks.
Overall, Zhu’s message promotes a strong emphasis on market regulation, particularly in the financial sector. He acknowledges the importance of understanding financial risks and ensuring that small banks are not blindly integrated in response. Instead, analysis of advantages and disadvantages should be prioritized when dealing with risks. Additionally, by combining regulatory efficiency with scientific and technological progress, the market can become better equipped to handle potential risks and ensure smoother internal circulation.
In conclusion, Zhu’s discussion provides valuable insight into the importance of market regulation and how it can be promoted through institutional reform and technological progress. The promotion of a healthy and efficient market is critical for economic growth and stability, and these efforts should be continuously prioritized moving forward.
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