记者丨 唐婧 编辑丨曾芳 视频丨 许婷婷 王学权 9月22日，国务院新闻办举行"高质量完成'十四五'规划"系列主题新闻发布会，中国人民银行 行长潘功胜，金融监管总局局长李云泽，中国证监会主席吴清，中国人民银行副行长、国家外 汇局局长朱鹤新介绍"十四五"时期金融业发展成就，并答记者问。 潘功胜介绍，五年来，在党中央坚强领导下，我国金融事业取得新的重大成就。金融体制改革 全面深化，顶层设计更加完善，我国金融治理体系和治理能力现代化迈上新台阶；种类齐全、 竞争充分的金融机构、市场、产品体系更加健全，金融服务的质量、效率、普惠性大幅提升； 重点领域金融风险有序化解，守住了不发生系统性金融风险的底线；金融对外开放步伐加快， 我国金融业的国际竞争力和影响力显著增强。 截至今年6月末，中国银行业总资产近470万亿元，位居世界第一；股票、债券市场规模位居世 界第二；外汇储备规模连续20年位居世界第一。我国在绿色金融、普惠金融、数字金融等方面 走在世界前列，基本建成多渠道、广覆盖、安全高效的人民币跨境支付清算网络，移动支付处 于国际领先水平。"十四五"时期，科技型中小企业贷款、普惠小微、绿色贷款年均增速超过 20%。 潘功胜表 ...

Core Viewpoint - The Chinese capital market has achieved steady growth in both quantity and quality during the "14th Five-Year Plan" period, laying a solid foundation for high-quality development in the "15th Five-Year Plan" period [1][5]. Group 1: Achievements in the Capital Market - The regulatory framework has been significantly improved, with the implementation of the new Securities Law and the introduction of over 60 supporting rules, enhancing the legal system of the capital market [2][4]. - The multi-layered market system has been further developed, with the A-share market's total market value surpassing 100 trillion yuan for the first time in August [3][4]. - The market's investment and financing functions have been strengthened, with total financing through stock and bond markets reaching 57.5 trillion yuan over the past five years, and the direct financing ratio increasing to 31.6% [4][5]. Group 2: Market Stability and Fairness - A collaborative mechanism for market stability has been established, enhancing the resilience and risk resistance of the A-share market, with the Shanghai Composite Index's annualized volatility decreasing by 2.8 percentage points [5]. - A fair and just market environment has been fostered, with significant increases in penalties for financial misconduct, including 2,214 administrative penalties and 41.4 billion yuan in fines during the "14th Five-Year Plan" period [5]. Group 3: Expansion of the Capital Market - The capital market has expanded its international reach, with significant reforms aimed at enhancing market openness and attracting foreign investment, including the removal of foreign ownership limits in various sectors [6][8]. - The total market value held by foreign investors in A-shares reached 3.4 trillion yuan, reflecting the growing international presence in the Chinese capital market [8]. Group 4: Future Directions - The regulatory body aims to enhance the adaptability and inclusiveness of the capital market, supporting high-quality enterprises and various types of capital to thrive [10][13]. - There is a focus on improving the quality and investment value of listed companies, ensuring a stable and vibrant market environment [12][13].

Core Insights - The financial regulatory authority has achieved significant progress during the "14th Five-Year Plan" period, enhancing the overall strength and efficiency of financial services [2][3] Financial Sector Development - The total assets of the banking and insurance sectors have surpassed 500 trillion yuan, with an average annual growth of 9% over the past five years, maintaining the position as the world's largest credit market and the second-largest insurance market [2] - The scale of trust, wealth management, and insurance asset management has approached 100 trillion yuan, doubling since the end of the "13th Five-Year Plan" [2] - The financial system has shown overall stability, with major regulatory indicators remaining within a "healthy range" and a 40% increase in the disposal of non-performing assets compared to the previous five years [2] Financial Services Enhancement - Over the past five years, the banking and insurance sectors have provided an additional 170 trillion yuan in funding to the real economy through various means [2] - The average annual growth rates for loans to scientific research, manufacturing, and infrastructure have reached 27.2%, 21.7%, and 10.1%, respectively [2] - The balance of inclusive loans to small and micro enterprises has increased to 36 trillion yuan, a 2.3-fold increase from the end of the "13th Five-Year Plan" [2] Regulatory Improvements - The financial regulatory authority has completed a system reform, establishing an effective "four-level vertical management" structure and enhancing regulatory legal frameworks [3] - Strict enforcement has led to penalties for 20,000 institutions and 36,000 individuals, with a total fine amounting to 21 billion yuan [3] Risk Management in Financial Institutions - The number of high-risk institutions and the scale of high-risk assets have significantly decreased, with the financial system's risk being described as "completely controllable" [4] - Various strategies, including mergers and restructuring, have been implemented to address risks in small and medium-sized financial institutions [4] Real Estate Market Support - The regulatory authority has provided over 1.6 trillion yuan in funding support for housing projects, with a 52% annual growth in rental housing loans [5] - A financing coordination mechanism for urban real estate has facilitated over 7 trillion yuan in loans for "white list" projects, supporting nearly 20 million housing units [5] Support for the Real Economy - The financial authority has focused on increasing supply, optimizing structure, and addressing shortcomings in financial support for the real economy [6][7] - Infrastructure loan balances have reached 54.5 trillion yuan, an increase of 62% from the end of the "13th Five-Year Plan" [6] - Loans to high-tech enterprises have reached nearly 19 trillion yuan, with an annual growth rate exceeding 20% [7] Consumer Protection and Regulatory Efficiency - The number of illegal fundraising cases has decreased by 50% compared to the "13th Five-Year Plan" [8] - The insurance sector has seen a reduction in costs, with life insurance companies reducing costs by 350 billion yuan since 2024 [8]

Group 1 - The core viewpoint of the article highlights the significant achievements of China's financial industry during the "14th Five-Year Plan" period, as discussed in a press conference by top financial officials [1] - Key figures from the People's Bank of China, financial regulatory authorities, and the China Securities Regulatory Commission gathered to share insights on the developments in the financial system, including capital markets, banking systems, monetary policy, and foreign exchange management [1] Group 2 - The article features expert analysis from prominent economists regarding the trends and highlights of China's financial system during the "14th Five-Year Plan" [1]

Group 1 - The core viewpoint is that during the "14th Five-Year Plan" period, China's financial sector has achieved significant accomplishments, with a focus on supporting high-quality economic development [1][2][4] - As of June 2023, China's banking sector total assets reached nearly 470 trillion yuan, ranking first globally, while the stock and bond market sizes ranked second [1] - The average annual growth rate of loans to technology-based small and medium-sized enterprises, inclusive finance for small businesses, and green loans exceeded 20% during the "14th Five-Year Plan" period [2][5] Group 2 - The People's Bank of China (PBOC) has established a modern monetary policy framework that effectively supports economic and social development goals [2][3] - The PBOC has implemented various monetary policy measures to stabilize market expectations and boost confidence, contributing to a sustained economic recovery [2][5] - The number of financing platforms has decreased by over 60%, and the scale of financial debt has dropped by over 50% compared to early 2023, indicating a significant reduction in local government financing platform risks [5][6] Group 3 - The PBOC is focused on enhancing the monetary policy and macro-prudential policy framework to achieve both currency stability and financial stability [3][4] - The PBOC has emphasized the importance of market-driven exchange rate formation and has maintained the basic stability of the RMB exchange rate amid external fluctuations [6][7] - The PBOC's monetary policy stance is characterized as supportive, with a commitment to moderate easing to foster economic recovery and stabilize financial markets [7][8]

Group 1 - The report highlights the significant achievements of China's financial system during the "14th Five-Year Plan" period, emphasizing the transformation from scale expansion to quality improvement in the financial sector [3][19][31] - The capital market has undergone a comprehensive restructuring of its foundational systems, with over 60 supporting regulations introduced, enhancing stability and development [12][13][31] - The report indicates that the A-share market's resilience and risk management capabilities have improved, with the annualized volatility of the Shanghai Composite Index decreasing to 15.9%, down 2.8 percentage points from the previous five-year period [13][19] Group 2 - The financial services to the real economy have significantly improved, with annual growth rates exceeding 20% for loans to technology-based SMEs, inclusive microloans, and green loans [20][25] - The internationalization of the Renminbi has made notable progress, becoming the largest settlement currency for China's foreign receipts and the third-largest trade financing currency globally [23][24] - The report states that the total assets of the banking and insurance sectors have surpassed 500 trillion yuan, with an average growth rate of over 9% in the past five years, indicating a robust financial foundation [29][30] Group 3 - The report emphasizes the acceleration of insurance funds entering the market, with over 5.4 trillion yuan invested in stocks and equity funds since the beginning of the "14th Five-Year Plan," marking an 85% increase from the end of the "13th Five-Year Plan" [29][30] - It notes that the financing channels for the real economy have been effectively utilized, with new funds amounting to 170 trillion yuan provided through various means over the past five years [29][30] - The report suggests that the regulatory environment has been continuously optimized, creating favorable conditions for insurance funds to enter the market, thereby enhancing market liquidity and stabilizing expectations [30][31]

Core Insights - The banking and insurance sectors have injected a total of 170 trillion yuan into the real economy over the past five years through various financial instruments [1][5]. Financial Sector Achievements - The financial industry has achieved significant growth, with total assets surpassing 500 trillion yuan, averaging a 9% annual growth rate over five years [4]. - The scale of trust, wealth management, and insurance asset management institutions has doubled compared to the end of the 13th Five-Year Plan, reaching nearly 100 trillion yuan [4]. - China has solidified its position as the world's largest credit market and the second-largest insurance market, with 143 Chinese banks listed among the global top 1,000 [4]. Support for the Real Economy - Financial support for the real economy has improved in both intensity and precision, with annual growth rates for loans in key areas such as scientific research, manufacturing, and infrastructure reaching 27.2%, 21.7%, and 10.1% respectively [5]. - The balance of inclusive finance loans for small and micro enterprises has reached 36 trillion yuan, 2.3 times that of the end of the 13th Five-Year Plan, with interest rates decreasing by 2 percentage points [5]. - The insurance sector has paid out a total of 9 trillion yuan in claims, a 61.7% increase compared to the 13th Five-Year Plan period [5]. Risk Management and Regulatory Reforms - The financial regulatory system has undergone significant reforms, with a focus on enhancing governance and maintaining a high-pressure stance against illegal activities [5]. - Over the past five years, the capital market has seen 2,214 administrative penalties for financial misconduct, totaling 41.4 billion yuan, marking increases of 58% and 30% respectively compared to the 13th Five-Year Plan [5]. - The number of high-risk small banks has been significantly reduced, and over 7,000 "zombie" private equity firms have been cleared [6]. Financial Opening and International Cooperation - The financial sector has made substantial progress in opening up, with 43 of the world's top 50 banks establishing operations in China [7][8]. - The cancellation of foreign ownership limits in the banking sector and improvements in cross-border investment mechanisms have been highlighted as key achievements [8]. - The foreign capital held in A-shares has reached 3.4 trillion yuan, with 269 companies listed abroad [8]. Future Outlook - The monetary policy will remain flexible and precise, focusing on maintaining liquidity and supporting consumption and effective investment [10]. - The financial regulatory authorities will continue to enhance macro-prudential and financial stability functions to prevent systemic financial risks [12]. - The emphasis will be on creating a market-oriented, law-based, and internationalized foreign exchange environment to support high-quality economic development during the 15th Five-Year Plan [12].

Group 1 - The core viewpoint is that China's foreign exchange reserves have remained stable above $3 trillion since the 14th Five-Year Plan, with a current level exceeding $3.2 trillion, serving as a crucial stabilizer for the economy and finance [1] - The cross-border receipts and payments reflect the vibrancy of China's foreign economic activities, with a projected scale of $14 trillion in 2024, representing a 64% increase from 2020, and an average annual growth rate 8 percentage points higher than during the 13th Five-Year Plan [1] - The foreign exchange market has expanded significantly, with a trading volume of $41 trillion expected in 2024, a 37% increase from 2020, and participation from 703 banks and 115 non-bank institutions as of June this year [1] Group 2 - The focus of China's foreign exchange work includes enhancing the efficiency of trade foreign exchange receipts and payments, facilitating cross-border investment and financing, and improving banks' foreign exchange service capabilities [2] - The next steps involve creating a market-oriented, legal, and international foreign exchange business environment while balancing financial openness and security to support the establishment of a higher-level open economic system [2]

Core Insights - The "14th Five-Year Plan" period has seen significant achievements in China's financial sector, with total banking assets reaching nearly 470 trillion yuan, ranking first in the world [1][3] - The scale of China's stock and bond markets ranks second globally, while foreign exchange reserves have maintained the top position for 20 consecutive years [3] - The growth rates for loans to technology SMEs, inclusive finance for small businesses, and green loans have averaged over 20% annually during this period [3] Group 1: Banking Sector Performance - As of mid-2023, total assets in the banking and insurance sectors have exceeded 500 trillion yuan, with an average annual growth rate of 9% over the past five years [4] - The number of Chinese banks in the global top 100 has reached 143, with six of the top ten banks being Chinese [4] - Key regulatory indicators such as non-performing loans, capital adequacy, and solvency are all within a "healthy range," with a 40% increase in the disposal of non-performing assets compared to the previous five-year period [4] Group 2: Financial Support for the Real Economy - The financial sector has provided an additional 170 trillion yuan in funding to the real economy over the past five years through various means including credit, bonds, and equity [5][6] - Specific loan categories such as scientific and technological loans, medium to long-term loans for manufacturing, and infrastructure loans have seen average annual growth rates of 27.2%, 21.7%, and 10.1% respectively [6] - The balance of loans for inclusive small and micro enterprises has reached 36 trillion yuan, which is 2.3 times that of the end of the previous five-year period, with interest rates decreasing by 2 percentage points [6] - The insurance sector has made cumulative payouts of 9 trillion yuan, reflecting a 61.7% increase compared to the previous five-year period [6]

Core Insights - The financial sector has shown overall stability during the "14th Five-Year Plan" period, with key regulatory indicators such as non-performing loans, capital adequacy, and solvency improving and remaining within healthy ranges [2] Financial Performance - The disposal of non-performing assets has increased by over 40% compared to the "13th Five-Year Plan" period [2] - The total scale of capital and provisions for risk resistance in the industry has exceeded 50 trillion yuan, indicating a stronger foundation and resilience to various challenges [2]