Core Viewpoint - The press conference highlighted the achievements of China's financial sector during the "14th Five-Year Plan" period, emphasizing the stability and growth of the financial system, as well as the ongoing reforms and regulatory improvements. Financial Sector Achievements - As of June 2023, China's banking sector total assets reached nearly 470 trillion yuan, ranking first globally, with stock and bond market sizes ranking second worldwide [3] - The average annual growth rate for loans to technology-based SMEs, inclusive small micro loans, and green loans exceeded 20% during the "14th Five-Year Plan" [3] - The People's Bank of China is committed to enhancing the central bank system and maintaining a supportive monetary policy stance [3] Regulatory Improvements - The banking and insurance sectors' total assets surpassed 500 trillion yuan, with an average growth rate exceeding 9% over the past five years [6] - The financial regulatory authority has imposed penalties on 20,000 institutions and 36,000 individuals since the beginning of the "14th Five-Year Plan" [6][9] - The number of high-risk institutions and the scale of high-risk assets have significantly decreased, indicating that risks are under control [6] Capital Market Developments - The capital market's basic systems and regulatory logic have been comprehensively restructured, with the market capitalization of technology companies in A-shares increasing to over 25% [10] - The total market capitalization of A-shares surpassed 100 trillion yuan for the first time in August 2023 [10] - The direct financing ratio has steadily increased, reaching 31.6%, up by 2.8 percentage points from the end of the "13th Five-Year Plan" [10] Cross-Border Financial Activities - The use of the renminbi in cross-border trade has risen to nearly 30%, reflecting its growing significance as a trade financing and payment currency [4][17] - China's cross-border receipts and payments are projected to reach 14 trillion dollars in 2024, a 64% increase compared to 2020 [17] - The foreign exchange reserves have remained stable at over 3 trillion dollars throughout the "14th Five-Year Plan" [17]

Core Viewpoint - The article discusses the achievements and developments in China's financial sector during the "14th Five-Year Plan" period, highlighting the stability and growth of the financial system, as well as the advancements in various financial services and regulatory measures. Financial Sector Achievements - As of June 2023, China's banking sector total assets reached nearly 470 trillion yuan, ranking first globally, with stock and bond market sizes ranking second [4] - The average annual growth rate for loans to technology-based SMEs, inclusive microloans, and green loans exceeded 20% during the "14th Five-Year Plan" [4] - The participation and influence of China in international financial governance have significantly increased [4] Regulatory Developments - The financial regulatory authority has intensified efforts to combat financial corruption, with 20,000 institutions penalized and 36,000 individuals held accountable since the beginning of the "14th Five-Year Plan" [8] - The number of high-risk institutions and assets has been significantly reduced, ensuring that risks are manageable [10] - The financial regulatory authority has published 171 regulations over the past five years, enhancing the regulatory framework [10] Capital Market Reforms - The capital market's basic systems and regulatory logic have been comprehensively restructured, with the market's technology sector now accounting for over 25% of the A-share market capitalization [11] - The total market capitalization of the A-share market surpassed 100 trillion yuan for the first time in August 2023 [12] - The introduction of a registration-based IPO system has been fully implemented, with 230 major asset restructuring cases disclosed since the "Merger Six Guidelines" were released [12] Cross-Border Financial Activities - As of July 2023, foreign institutions and individuals held over 10 trillion yuan in domestic stocks, bonds, and deposits [15] - The scale of cross-border receipts and payments is projected to reach 14 trillion dollars in 2024, reflecting a 64% increase compared to 2020 [15] - The use of the renminbi in cross-border trade has risen to nearly 30%, indicating enhanced resilience in the foreign exchange market [15]