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 hopes to further expand the mode 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 Banking Insurance Regulatory Commission will continue to implement 10 open measures. This year, the first is to study new measures for opening up to the outside world, so that the scope of opening up is broader and more powerful. In particular, there is a need for professional foreign-invested insurance institutions 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, but also to make equity. We now need some professional foreign institutions to bring technology and professional talents.
Liao Yuanyuan, deputy director of the Innovation Department of the China Insurance Regulatory Commission, said at the recent supervisory work briefing 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)
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)
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, 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 accumulated write-off was 988 billion yuan, a year-on-year write-off of 259 billion yuan. (Source: Securities Times Network)
On the 11th, the Banking Insurance Regulatory Commission held the “Recent Key Supervision Work Ventilation Meeting”. Liu Zhiqing, deputy director of the Banking Insurance Regulatory Commission, said that the current banking industry in China is stable and risk-controlled.
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%, a decrease of 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 level of provisioning 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. The provision coverage ratio and loan provision rate 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. Inter-bank 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)