“十四五”期间我国金融风险总体可控，金融体系稳健运行，服务实体经济的能力逐步增强

Core Insights - The Chinese financial sector has shown significant growth and stability during the "14th Five-Year Plan" period, with total banking assets reaching nearly 470 trillion yuan, making it the largest in the world [1] - The A-share market's total market capitalization surpassed 100 trillion yuan for the first time in August, indicating enhanced resilience and risk management capabilities [1] - Financial risks are generally controllable, with a focus on addressing high-risk small financial institutions, real estate, and local government debt [3][4] Banking Sector - As of June 2023, China's banking sector total assets were nearly 470 trillion yuan, ranking first globally [1] - The number of high-risk small financial institutions has significantly decreased, with many provinces achieving "dynamic zero" for these institutions [3] Securities Market - The A-share market's total market capitalization exceeded 100 trillion yuan in August, reflecting improved market resilience [1] - The annualized volatility of the Shanghai Composite Index decreased by 2.8 percentage points compared to the "13th Five-Year Plan" period, now at 15.9% [1] Real Estate Sector - Financial support for housing projects exceeded 1.6 trillion yuan, aiding the construction and delivery of nearly 20 million housing units [4] - Adjustments in down payment ratios and mortgage rates are expected to save over 500 million households approximately 300 billion yuan in interest payments annually [4] Local Government Debt - The number of local financing platforms has decreased by over 60%, and the scale of financial debt has dropped by more than 50% compared to the beginning of 2023 [4] Foreign Exchange and Cross-Border Trade - China's cross-border payment scale reached 14 trillion yuan in 2024, a 64% increase from 2020, with an average annual growth rate 8 percentage points higher than the previous five-year period [6] - The trading volume in the foreign exchange market is projected to be 41 trillion yuan in 2024, a 37% increase from 2020 [6] Regulatory Environment - The China Securities Regulatory Commission has implemented strict measures to control risks, including significant penalties for financial misconduct, such as a record fine of 4.175 billion yuan against Evergrande and its auditing firm [7] - Approximately 7,000 zombie private equity firms have been cleared, and all problematic financial institutions have been addressed [7] Monetary Policy - The People's Bank of China emphasizes a supportive monetary policy stance, aiming to maintain liquidity and stabilize the financial market amid global economic fluctuations [8][9]