Home > economy Channel >                 text

Banking Regulatory Commission: Will study new measures for opening up to the outside world, especially need professional foreign insurance to enter China

January 11, 2019 16:40
source: China Securities Network

Oriental Fortune APP

  • Convenient
  • Mobile phone viewing financial news
  • Professional, rich
  • Master the pulse of the market

Read articles on your phone

  • prompt:
  • WeChat sweep
  • Share it to you
  • Circle of friends
Summary
[Heavy] Banking Regulatory Commission: In 2019, it will study new measures for opening up to the outside world, especially for professional foreign insurance institutions to enter China. I hope to further expand the open approach, not only to set up branches, not only to invest, but also to make equity. We now need some professional foreign institutions to bring technology and professional talents.

On the 11th, the director of the China Insurance Regulatory Commission, Xiao Yuanqi, revealed at the recent supervisory work briefing of the Banking Regulatory Commission that this year, first, it is necessary to study new measures for opening up to the outside world, and second, it is hoped to further expand the way of opening up.

Xiao Yuanqi pointed out that more than 10 measures for opening up to the outside world were introduced last year. Next, the China Insurance Regulatory Commission will continue to implement 10 open measures. This year, the first is to study new measures for opening up to make the scope of opening up wider and more powerful. In particular, it is necessary to have a professional foreign-invested insurance institution to enter the Chinese market. In a certain field, the sense of compliance management is relatively strong. The shortcomings of our management system complement each other. Second, we hope to further expand the open approach. It is not just to set up branches, not only to invest and to make equity, but we now need some professional foreign institutions to bring technology and professional talents.

  【Related reports】

  Banking Regulatory Commission: We will promptly carry out the construction of supporting system for financial subsidiaries

Liao Yuanyuan, deputy director of the Innovation Department of the China Insurance Regulatory Commission, said at the recent supervisory work meeting of the China Insurance Regulatory Commission on the 11th that the next step will be launched.Financial managementSubsidiary supporting system construction. For example, the financial capital management method and liquidity management method of the financial subsidiary, timely improve the regulatory asset management system, and will continue to strengthen the risk monitoring of the wealth management business and proactively prevent and resolve related risks. (Source: Securities Times Network)

  Bank of China Insurance Regulatory Commission Xiao Yuan Enterprise: There is no one-size-fits-all business in the rectification channel business.

On the 11th, Xiao Yuanqi, chief risk officer and spokesperson of the China Insurance Regulatory Commission, said that in the past two years, the regulatory authorities have targeted “precise strikes” on cross-financial services such as channel business, rather than adopting a one-size-fits-all approach to strong supervision. The focus will be on rectifying the following two types of channel services: First, it will promote the financial business of “de-realization”, such as partial financial management, inter-bank, and off-balance sheet financing. Second, focus on rectifying the channel business that violates laws and regulations and disrupts market order. We have severely cracked down on illegal and illegal financial activities and financial institutions that are in the market. (Source: Securities Times)

  Banking Regulatory Commission: New loans of 15.6 trillion in 2018, accounting for 83.4% of the increase in social financing

On January 11, the China Insurance Regulatory Commission held the “Recent Key Supervision Work Ventilation Meeting”. The relevant person in charge of the Banking Insurance Regulatory Commission disclosed that the current banking industry is running steadily, the risks are generally controllable, and the proportion of loans has steadily increased. As of the end of December 2018, banking industry loans grew by 12.6% year-on-year, about half of the growth rate of banking assets. New RMB loans totaled 15.6 trillion yuan in the year, and the increase in RMB loans accounted for 83.4% of the increase in social financing.

  CreditThe quality was basically stable, and the non-performing write-offs increased. As of the end of December 2018, the non-performing loan balance of the banking industry was 2 trillion, and the non-performing rate was 1.89%. The balance of concern loans was 3.4 trillion, and the proportion of concerned loans was 3.16%, compared with 2016. The high point dropped by 1 percentage point. In 2018, the cumulative write-off was 988 billion yuan, a year-on-year write-off of 259 billion yuan. (Source: Securities Times Network)

  Banking Regulatory Commission: Non-performing loan balance of 2 trillion yuan at the end of 2018. Non-performing loan ratio of 1.89%

The Bank's Insurance Regulatory Commission held the "Recent Key Supervision Work Ventilation Meeting" on the 11th. Liu Zhiqing, deputy director of the Banking Insurance Regulatory Commission, said that the current banking industry in China is stable and risk-controllable.

Liu Zhiqing pointed out that the scale of the banking industry continued to grow and the proportion of loans increased steadily. According to preliminary statistics, as of the end of December 2018, the total domestic assets of the banking industry was 261.4 trillion yuan, a year-on-year increase of 6.4%. The total liabilities of the banking industry were 239.9 trillion yuan, a year-on-year increase of 6%.

The credit quality was basically stable and the write-off efforts were increased. As of the end of last year, the balance of non-performing loans of commercial banks was 2 trillion yuan, the non-performing loan ratio was 1.89%; the balance of concern loans was 3.4 trillion yuan, and the interest rate of loans was 3.16%, which was 1 percentage point lower than the 2016 high; over 90 days. The ratio of loans and non-performing loans was 92.8%, down 6.9 percentage points from the end of the previous year. In 2018, commercial banks accumulatively wrote off 980 billion yuan of non-performing loans, which was more than 259 billion yuan written off from the previous year, thus freeing up more space for private enterprises and small and micro enterprises.

In addition, the provision level is higher and the risk resilience is enhanced. The balance of loan losses for commercial banks was 3.7 trillion yuan, an increase of 766.2 billion yuan from the end of the previous year. Provision coverage ratio and loan provision ratio were 185.5% and 3.5%, respectively, up 5.1 and 0.24 percentage points from the end of the previous year. Under the circumstances that the loan loss preparation supervision requirements have been adjusted, the two indicators still maintain an upward trend.

Liquidity remained generally stable and interbank liabilities continued to contract. The renminbi excess reserve ratio of commercial banks was 2.64%, and the deposit-loan ratio was 74.3%, all within a reasonable range. The proportion of high-quality liquid assets was significantly higher than the international average. Interbank liabilities fell by 9.1% year-on-year, and some small and medium-sized institutions were over-reliant on short-term wholesale financing. (Source: China Securities Network)

(Article source: China Securities Network)

                (Editor: DF142)

you might be interested
  • News
  • stock
  • global
  • Hong Kong stocks
  • US stocks
  • futures
  • Foreign exchange
  • life
    click to see more
    No more recommendations
    • name
    • Latest price
    • Quote change
    • Hand turnover rate
    • Capital inflow
    Please download Oriental Fortune products to see real-time quotes and more data.
    Click ranking
    Solemnly declare:Oriental Fortune.com publishes this information to disseminate more information and has nothing to do with the position of this website. Oriental Fortune.com does not guarantee the accuracy, authenticity, completeness, validity, timeliness, originality, etc. of all or part of this information (including but not limited to text, data and graphics). The relevant information has not been confirmed by this website, and does not constitute any investment advice for you. According to this operation, the risk is at your own risk.
    couponcode3.xyz