By the time the U.S. loan crisis evolved in the global financial crisis is still spreading, the prospects unclear. Capital flows in a high degree of globalization, the world's financial system as an important part of China will inevitably be adversely affected. In the face of the international financial market turmoil, China's banking, securities, insurance industry of the three financial system take active measures to effectively deal with.
Banking: to strengthen the credit risk prevention
In the banking sector supervision, China has always insisted the banking system and capital market separation, which effectively prevent the risk in money market and capital market between the spread of financial crisis made the United States on a limited impact on China's banking industry.
Nevertheless, China's commercial banks are still in financial crisis have been implicated in some. According to the disclosure of data, as of the end of 9, the bank held by the United States to support the secondary housing loan bonds with a face value of Total 1,207,000,000 U.S. dollars, holders of the "two rooms" related to bond together with a face value of 1,676,000,000 U.S. dollars, and so on. In order to reduce investment risk, the bank has to include the above-mentioned bonds, including bonds extract a total of 1,390,000,000 U.S. dollars set aside to allocate more than 100% coverage. Bank of China (601,988, it shares) and China Construction Bank (601,939, it shares), have also taken corresponding measures such as reduction provision.
In response to the turmoil in global financial markets, the China Banking Regulatory Commission to conduct a special deployment, said the credit should guard against the risk of the banking sector as the main task, it is necessary to step up overseas investment business risk prevention, and actively deal with fluctuations in international markets. At the same time, it is necessary to strengthen the management and standardize intermediary business, improve information technology risk management, and in a timely manner to sum up experiences and lessons of the global financial crisis, timely adjustment and management methods.
China Banking Regulatory Commission official said the current domestic and international economic and financial turmoil in the environment, credit risk is the top priority of the bank risk management, credit and risk management continues to be the focus of loans in the area. To this end, China Banking Regulatory Commission is stepping up efforts to develop commercial bank loans to strengthen the management of the relevant provisions.
The securities industry: to strengthen the foundation for the building of the system
In the face of the current international financial market turmoil exacerbated by the severe challenges and environment of China's full circulation of capital markets reform and development of new situations and problems, the China Securities Regulatory Commission recently issued a series of confidence will help boost the market, will help lay a solid long-term market-based system The reform measures and spare no effort to maintain stability in the capital markets operation.
For some time, the Securities and Futures Commission to take timely measures to increase the listed company to buy back the controlling shareholder holdings and the flexibility of listed companies to improve the relevant provisions of cash dividends, securities companies to start business Margin pilot, the company launched exchangeable bonds. This series of initiatives to help enhance the current state of market confidence and maintain market stability, but also conducive to strengthening the internal market and stable development of the foundation, better adapted to the new situation of reform and development of capital markets.
To specific sectors, due to the comprehensive management of the securities industry has changed the face of a solid foundation for the development of the international financial market turmoil on China's securities industry little impact. Although several major Wall Street investment bank by the full impact of China's securities companies in financial crisis and the huge domestic market volatility remained under attack from both inside and outside the norms of stable development.
Under the arrangement, the SFC will continue to proceed from the basis of the system, based on the current long-term, in the following areas of the capital market to promote stable and healthy development: a more prominent protection of the legitimate rights and interests of investors, and actively explore the protection of legitimate rights and interests of investors in the long Effective mechanism; the market mechanism to play a more prominent role in promoting the formation of a new mechanism of the new system; more to improve market structure and promote the coordinated development of the market; more market reforms to strengthen efforts to actively and steadily push forward reform and innovation; innovation to improve the scientific nature of decision-making, Through deepening the reform, prudent innovation, exploring new market ideas, new methods, better real economy and good for fast development.
Insurance: sound system as a preventive measure
It is understood that the China Insurance Regulatory Commission and now has taken a series of effective measures to actively cope with the international financial crisis on China's insurance industry:
- China Insurance Regulatory Commission to set up an international financial market information and follow-up study group to follow the entire process of international financial markets and financial policies of the countries the latest developments, timely analysis on China's insurance industry, to strengthen and improve plans to deal with the risks and safeguard the healthy and stable insurance industry Safe operation.
- Emergency start working mechanism, strengthen the foreign insurance institutions in China, a subsidiary of cross-border capital flow monitoring, and effectively guard against the risk of cross-border transmission.
- A high degree of vigilance and focus of attention due to the lack of insurance and consumer confidence may lead to misleading marketing of non-normal risk of surrender.
- Attach great importance to the vigilance and focus on the use of insurance funds by the inappropriate risks. Conscientiously do a good job of investigating the risk, improve the investment risk analysis, identification, early warning and control mechanisms. Improve the rules and regulations to standardize the investment, risk management coverage to ensure that all departments and jobs, all through the course of business.
CIRC spokesman Yuan Li optimistic that the whole economic development of China's fundamentals have not changed, the insurance industry in China still have great potential for development, the future of the insurance industry will maintain a sustained and stable development momentum. January to September, the realization of the national premium income 793,960,000,000 yuan, an increase of 49%. Compensation and benefits expenses 222,720,000,000 yuan, up 35.5 percent. At present, foreign investment in domestic insurance companies a total of 115, the total assets of the insurance industry 3.2 trillion yuan.
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