其中，在风险处置领域，征求意见稿明确了早期干预、接管、撤销等风险处置方式；修订草 案则新增了"整顿组"作为早期干预和重组/接管之间的"中间层"，从而形成涵盖重组、整顿、 接管、撤销等风险处置方式的完善风险处置框架。 具体来看，修订草案第五十五条规定：银行业金融机构出现经营管理情况恶化、公司治理严 重混乱等重大风险隐患的，国务院银行业监督管理机构可以派出整顿组，对银行业金融机构 经营、管理活动进行监控，并同时将相关情况通报银行业金融机构所在省、自治区、直辖市 人民政府以及中国人民银行等国务院有关部门。经整顿，银行业金融机构恢复正常经营的， 结束整顿；派出整顿组后六个月内难以恢复正常经营的，国务院银行业监督管理机构应当区 别情形采取促成机构重组或者接管、撤销等方式实施风险处置或者向人民法院提出破产申 请。 "这实际上是对事前防控工具的进一步丰富和细化，让预防风险的手段更实，实现风险的早识 别、早预警、早暴露、早处置。"中国政法大学破产法与企业重组研究中心主任李曙光接受证 券时报记者采访时表示，一般而言，金融风险防控分为事前、事中、事后三个阶段，过往"纠 正"就已是"事前"环节的最后一个手段。 强大的金融监管是金融 ...

21世纪经济报道记者 吴霜 2025年，可以说是村镇银行大撤退的一年。 2025年年初，中央一号文件将"稳妥有序推进村镇银行改革重组"列为重点任务，此后的政府工作报告 中，更是强调了地方中小金融机构的风险处置与转型发展。 背后原因，主要与村镇银行蕴含的潜在风险有关。央行发布的《中国金融稳定报告（2024）》显示，在 央行的风险检测预警工作中，预警银行以村镇银行和农村商业银行为主，合计324家次，占比为67%。 外资村镇银行退出"并不意外" 对于汇丰村镇银行的退出，多位从业者对记者表示"并不意外"。 "外资银行很早就开始尝试在华设立村镇银行，但一直存在品牌认可度低、难以融入当地经济圈等'水土 不服'的问题，现在逐步退出也是顺应时代的选择，"一位村镇银行人士对记者表示。 21世纪经济报道记者发现，除了中资行在不断通过"村改支"、解散、吸收合并等方式让村镇银行逐渐退 出舞台以外，外资行也开始收缩村镇银行这一业务板块。 近日，重庆金融监管局发布关于重庆荣昌汇丰村镇银行有限责任公司解散的批复，同意解散重庆荣昌汇 丰村镇银行有限责任公司。 批复显示，该行拟通过解散方式实现村镇银行市场化退出，前期已将存续的相关存贷款业务转 ...

21世纪经济报道记者余纪昕 12月22日下午，十四届全国人大常委会第十九次会议听取国务院关于2024年度中央预算执行和其他财政收支审计查出问题整改 情况的报告。 报告显示，截至2025年9月底，2024年度审计工作报告要求立行立改的2186个问题中，98%已完成整改；要求分阶段整改的1299 个、持续整改的753个问题，制定了时间表和路线图。有关地方、部门和单位共整改问题金额1.04万亿元，制定完善制度1090多 项，处理处分3420多人。重大问题整改总体进展顺利，解决了一些不利于经济高质量发展的体制机制问题。 在进一步推进防范化解重点领域风险方面，审计署政策研究室相关负责人在答记者问中提到，加强地方政府债务风险管理，财 政部进一步加强债务风险防控力量建设；严肃查处新增政府隐性债务的地方和单位，在全国公开通报12起问责典型案例；印发 工作通知，进一步加强对隐性债务新增、问责、化解等全链条监管；开展地方政府隐性债务化解核查，会同有关方面按程序做 好地方债务重点省份退出工作。7省已偿还违规新增的政府隐性债务33.42亿元；9个地区国企违规归集的涉农贷款已归还18.48亿 元；2省2个地区已实质性化解政府债务1.7 ...

Core Insights - The cross-border e-commerce platform, Yunshang City TikTok, is facing a significant issue with unfulfilled payment obligations, leading to abnormal cash flow and delayed returns for investors [1] - The situation has resulted in severe economic pressure on investors and potential business interruptions for some operators, severely impacting industry confidence [1] - Regulatory authorities have intervened to conduct a comprehensive investigation and coordinate efforts among platform operators, investor representatives, and financial institutions [1] Group 1 - A third-party institution has been introduced to manage the situation due to its expertise in financial risk management and cross-border operations, providing hope for resolving the payment crisis [3] - An online redemption channel has been successfully opened, with clear communication to investors regarding the process and precautions to ensure smooth transactions [3] Group 2 - Following the resolution of the incident, Yunshang City TikTok is expected to regain trust and gradually restore its operations, while the industry will learn from this experience to improve regulatory and operational mechanisms [5] - The overall goal is to restore market confidence and ensure the stable and healthy development of the industry [5]

Core Viewpoint - The article discusses the achievements of China's financial industry over the past five years, emphasizing the focus on long-term stability and development rather than short-term policy adjustments. The upcoming "Fifteen Five" plan is also hinted at, with expectations for continued financial reforms and support for economic growth [3][4][13]. Financial Development Achievements - The financial market has undergone significant changes, with the total assets of the banking and insurance sectors surpassing 500 trillion yuan, averaging a growth of 9% annually over the past five years [6][7]. - Financial support for the real economy has increased, with new funds injected into the economy reaching 170 trillion yuan, and specific sectors like technology and infrastructure receiving targeted loans [7][8]. - The insurance industry has paid out 9 trillion yuan in claims, a 61.7% increase compared to the previous five-year period [7]. Financial Risk Management - The financial regulatory framework has been reformed, with a focus on maintaining a high-pressure stance against illegal activities, resulting in significant penalties for financial misconduct [8]. - The number of high-risk small and medium-sized banks has decreased, and the cleanup of "zombie" private equity firms has been effective [8]. Financial Opening and International Cooperation - The financial sector has made strides in opening up, with significant reforms in capital markets and foreign exchange management, enhancing China's global financial integration [9][10]. - The removal of foreign ownership limits in the banking sector and the establishment of various cross-border investment mechanisms have expanded foreign participation in China's financial markets [11][12]. Future Financial Policy Outlook - The article outlines expectations for the upcoming "Fifteen Five" plan, with a focus on flexible and precise monetary policy to support economic recovery and stability [13][14]. - The emphasis will be on maintaining a balance between financial openness and risk prevention, with ongoing efforts to create a favorable environment for foreign exchange and investment [15].

Core Viewpoint - The meeting emphasized the importance of long-term and systematic efforts in building a beautiful China, balancing high-quality development with high-level environmental protection [2] Group 1: Government Procurement and Domestic Product Standards - The government plans to implement domestic product standards in government procurement, which is seen as a crucial step in improving the procurement system and ensuring fair competition [3] - The government will categorize domestic product standards based on practical needs and set specific requirements for key components and processes of certain products [3] - The Ministry of Finance has initiated a three-year action plan (2024-2026) to rectify market order in government procurement, inspecting over 6,000 agencies and more than 30,000 projects to enhance the business environment [3] Group 2: Banking Industry Supervision - The meeting discussed and tentatively approved the revised draft of the Banking Supervision Law, which will be submitted to the National People's Congress for review [4] - The stability of banking financial institutions is crucial for the overall stability of the financial system and the safety of people's assets, necessitating stricter management and legal measures against illegal financial activities [4] - The Banking Supervision Law, first implemented in February 2004, is undergoing revisions to better align with the 2025 legislative work plan of the State Council [4]

Core Viewpoint - The revision of the Enterprise Bankruptcy Law, which has been in effect for 18 years, aims to modernize the bankruptcy legal framework, addressing practical challenges and enhancing the system's effectiveness in risk prevention and resolution [1][2]. Group 1: Key Features of the Revision - The revised draft expands from 12 chapters and 136 articles to 16 chapters and 216 articles, adding and modifying over 160 provisions to address shortcomings in the current law [2]. - The revision aims to improve the willingness to utilize bankruptcy procedures, enhance execution, and establish effective coordination between government and judicial bodies [2]. - New chapters on "merger bankruptcy" and "bankruptcy of financial institutions" have been introduced, enriching the bankruptcy legal toolkit [2]. Group 2: Financial Institution Bankruptcy - A dedicated chapter for "bankruptcy of financial institutions" has been added, recognizing the unique characteristics of financial institutions and their systemic importance [3]. - The scope of applicable institutions has been broadened to include trust companies, securities investment fund management companies, futures companies, and non-bank payment institutions, aligning with regulatory frameworks [3]. - Special rules for debt repayment have been established to protect financial consumers and the public, ensuring that financial stability funds have the same repayment priority as the entities they support [4]. Group 3: Risk Prevention and Coordination - The revision emphasizes the need for coordination between administrative measures and judicial bankruptcy processes, highlighting the importance of a comprehensive legal framework for financial risk management [5]. - Recommendations include modifying existing financial laws and establishing a unified legal framework for financial risk resolution [5]. Group 4: Optimization of Bankruptcy Procedures - The revision introduces mechanisms to enhance the efficiency of bankruptcy procedures, including a special pathway for small and micro enterprises [6]. - A new section specifically for small and micro enterprises aims to streamline the bankruptcy process, reducing costs and expediting case resolution [6]. - The special procedures for small enterprises allow for simplified management and quicker resolution timelines, ensuring a balance between creditor interests and the operational rights of business owners [6].

Core Points - The draft amendment to the Enterprise Bankruptcy Law, which has been in effect for 18 years, is undergoing its first major revision, with over 160 new and modified provisions aimed at addressing practical challenges and enhancing the legal framework for bankruptcy [1][2] - The revision emphasizes the importance of bankruptcy law as a fundamental legal system for market economy exit and risk management, aligning with modern bankruptcy law concepts [1][2] Group 1: Comprehensive Legal Revision - The amendment expands the existing law from 12 chapters and 136 articles to 16 chapters and 216 articles, addressing shortcomings in the current system [2] - Key issues such as low willingness to utilize bankruptcy procedures, execution difficulties, and ineffective coordination between government and courts are being tackled [2] - New provisions include the establishment of chapters for merger bankruptcy and bankruptcy of financial institutions, enriching the bankruptcy legal toolkit [2] Group 2: Financial Institution Bankruptcy - A dedicated chapter for "Bankruptcy of Financial Institutions" has been added, recognizing the unique characteristics of financial institutions and their systemic importance [3] - The scope of applicable financial institutions has been broadened to include trust companies, securities investment fund management companies, futures companies, and non-bank payment institutions [3] - Special rules for debt repayment have been established to protect financial consumers and the public, ensuring that financial stability guarantee funds have the same repayment priority as the entities they compensate [4] Group 3: Risk Prevention and Coordination - The need for coordination between administrative measures and judicial bankruptcy processes is emphasized, with a focus on developing a comprehensive legal framework for financial risk management [5] - Recommendations include modifying existing financial laws and establishing a unified system for financial risk disposal [5] Group 4: Optimizing Bankruptcy Procedures - The draft aims to enhance the efficiency of bankruptcy procedures, addressing concerns about lengthy processes and inefficiencies [6] - A special chapter for small and micro enterprises has been introduced, allowing for expedited bankruptcy processes tailored to their needs [6] - The special procedures for small and micro enterprises include simplified case handling, flexible management, and expedited timelines for resolution [6]

Core Viewpoint - The article emphasizes the importance of learning from historical experiences of high-risk small and medium-sized banks both domestically and internationally, particularly in the context of China's ongoing efforts to mitigate financial risks since 2018 [1] Group 1: International Lessons from High-Risk Small and Medium-Sized Banks - The historical lessons from international banking crises highlight that market-driven risk resolution is essential, but the approach differs for banks compared to general enterprises [2][3] - The U.S. experienced three major waves of bank failures, with the first occurring during the Great Depression, leading to the closure of approximately 9,500 banks due to stock market investments [2] - The second wave from 1980 to 1994 was driven by the savings and loan crisis, where regulatory relaxations led to significant failures, with 35%-40% of banks involved in financial crimes [4][6] - The third wave from 2008 to 2013 was marked by the subprime mortgage crisis, resulting in the collapse of major banks and necessitating extensive government intervention [7][8] Group 2: Key Insights from Historical Experiences - Government intervention is crucial in managing bank failures to prevent widespread financial contagion and economic costs [3][6] - The need for a differentiated approach in risk management between small and medium-sized banks and large financial institutions is highlighted, as the latter poses systemic risks [9] - The recent collapse of Silicon Valley Bank illustrates the rapid spread of risk due to asset-liability mismatches and the impact of social media on depositor behavior [10][11] Group 3: China's Historical Experience and Current Strategies - China's approach to managing risks in small and medium-sized banks has evolved through three stages, focusing on governance and regulatory frameworks [14][15] - The current phase emphasizes the need for precise risk identification and timely intervention to prevent systemic risks, especially in light of economic uncertainties [19][20] - The importance of maintaining a balance between market-driven solutions and regulatory oversight is underscored, particularly in preventing moral hazards and ensuring accountability [21][22]

Core Viewpoint - The deposit insurance system in China has effectively stabilized public confidence in financial institutions and protected depositors' interests over the past decade, with significant developments and reforms anticipated in the coming years [5][6][10]. Summary by Sections Overview of Deposit Insurance System - The deposit insurance system in China has been in place for ten years since the implementation of the "Deposit Insurance Regulations" in May 2015, covering all deposit-taking financial institutions [4]. - The maximum compensation limit for deposit insurance is set at 500,000 RMB, and the funding comes from premiums paid by financial institutions, with no cost to depositors [4]. Historical Performance and Impact - The system has undergone multiple tests, notably during the takeover of Baoshang Bank in 2019, where the deposit insurance fund provided full protection for claims under 50 million RMB and nearly 90% coverage for larger claims [5]. - Since 2021, deposit insurance has played a role in the reform and risk management of small and medium-sized banks, including the establishment of LiaoShen Bank and support for the bankruptcy of LiaoYang Rural Commercial Bank [5]. Growth and Future Directions - By the end of 2024, deposits in small and medium-sized banks are expected to have increased by 124% since 2015, with a market share rise of 2.4 percentage points [6]. - Future plans include enhancing the deposit insurance fund and exploring backup financing mechanisms to increase revenue and ensure financial stability [6][10]. Financial Operations and Premium Collection - The deposit insurance fund is managed by the Financial Stability Bureau of the People's Bank of China, with institutions required to pay premiums semi-annually based on a risk-differentiated rate system [7][10]. - The total collected premiums from 2015 to 2024 amount to 373.2 billion RMB, supporting risk management efforts [11]. Legal Framework and Recommendations - There is a call for the establishment of a dedicated Deposit Insurance Law to clarify the system's legal standing and enhance its operational framework [13][14]. - Experts suggest improving early correction mechanisms and risk management processes within the existing regulations to better address financial risks [15][16].