On the afternoon of May 27th, the State Administration for Financial Regulation held a party committee meeting to convey and learn from the spirit of the Political Bureau meeting of the Communist Party of China Central Committee, and to study and deploy the implementation measures of the "Accountability Regulations for Preventing and Resolving Financial Risks (Trial)". The meeting believes that the formulation and promulgation of the "Accountability Regulations for Preventing and Resolving Financial Risks (Trial)" is an important measure to further promote the implementation of the requirements of comprehensive and strict governance of the Party in the financial field, and effectively strengthen the centralized and unified leadership of the Party Central Committee over financial work. It is of great and far-reaching significance for consolidating the responsibilities of relevant management departments, financial institutions, industry regulatory departments, and local party committees and governments in the financial field, implementing various tasks such as comprehensively strengthening financial supervision, preventing and resolving financial risks, and promoting high-quality development of finance. All levels of party organizations and party members and cadres in the general bureau system should effectively unify their thoughts and actions with the decision-making and deployment of the Party Central Committee, enhance their political consciousness, ideological consciousness, and action consciousness in implementing the "Regulations", firmly support the "Two Foundations" with practical actions, and resolutely achieve the "Two Safeguards". The meeting emphasized that preventing and resolving financial risks, especially preventing systemic financial risks, is the fundamental task of financial work. We must thoroughly implement the deployment of the Central Financial Work Conference and firmly guard the bottom line of preventing systemic financial risks. We must make every effort to promote the reform of small and medium-sized financial institutions and implement policies tailored to local conditions and classified measures, and carry out work in a planned and step-by-step manner. To promote a virtuous cycle between finance and real estate, further leverage the coordination mechanism of urban real estate financing, meet the reasonable financing needs of real estate projects, and vigorously support the construction of the "three major projects" such as affordable housing. To cooperate in preventing and resolving local debt risks, financial institutions should be guided to carry out debt restructuring and replacement in a market-oriented manner. The meeting pointed out that it is necessary to fully implement the requirements of strong supervision and strict supervision, and truly achieve "long teeth with thorns" and sharp edges. We need to focus on strengthening the construction of financial rule of law and accelerate the filling of regulatory system gaps. Comprehensively enhance the efficiency of regulatory and law enforcement, and seriously investigate and deal with illegal and irregular issues that affect financial stability, disrupt market order, and cause significant risks. We need to promote the legal inclusion of all financial activities in regulation, establish and improve a regulatory responsibility attribution and bottom-up supervision mechanism, and truly achieve shared responsibilities, answers, and efforts in the same direction. The meeting requires us to persistently deepen the comprehensive and strict governance of the Party by the General Administration system, adhere to the principle of strictness as the top priority, dare to confront challenges, dare to manage strictly, and truly manage strictly. We must release a strong signal that accountability must be held accountable for any dereliction of duty. Strengthen political construction with a clear flag, and lead the high-quality development of finance with the high-quality development of party building. Consciously and proactively accept central inspection and supervision, and carry out regular and long-term rectification of central inspections. We will firmly uphold the principles of integrity, discipline, and anti-corruption, and continue to create a good political environment of clean and upright conduct. Strictly implement the "three distinctions" and motivate cadres to take on responsibilities. Deepen the implementation of the "Four New" project, promote significant changes in work and regulatory oversight through a major ideological transformation. (Lai Xin She)
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