The Chinese premier, Li Qiang, has underscored the critical role of the financial sector in bolstering the real economy. Speaking during a national conference in Beijing, Li emphasized the need for high-quality development within the financial industry.
As a member of the Standing Committee of the Political Bureau of the CPC Central Committee and head of the Central Financial Commission, Li highlighted several key areas for advancement. These include technology finance, green finance, inclusive finance, pension finance, and digital finance. He stressed the importance of coordinating financial openness with security measures to build a modern financial system tailored to the Chinese mainland's unique characteristics.
Li also called for the timely reform of local financial management mechanisms, stronger supervision of local financial institutions, and vigilant prevention of systemic financial risks. Addressing interconnected risks in sectors like real estate and local government debt, he advocated for rigorous crackdowns on illegal financial activities.
Highlighting the importance of supporting major strategies and addressing weak links, Li urged financial institutions to identify and enhance support for the real economy. His remarks aimed at promoting sustainable and high-quality growth within the financial sector, ensuring it continues to serve the broader economic goals of the Chinese mainland.
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Chinese Premier Li Qiang stresses financial support for real economy
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