Following the release of the 2017 government work report earlier this year, the shadow bank and Internet finance included in the need to be highly vigilant of the "four financial risks", according to the central bank issued the news of the morning of October 16, recently held the International Monetary Fund / World Bank annual meeting, the Chinese central bank governor Zhou Xiaochuan talked about financial stability, said the Financial Stability Development Committee will focus on the future four aspects of the problem, which still includes shadow banking and Internet finance, there are two areas for asset management Industry and financial holding company.
Shadow bank gradually "to shadow"
For a long time, commonly known as the shadow bank bank off-balance sheet business, like the financial chain upstream of the "shadow", not only exist in the banking institutions, but also through the channel business, business nesting and other forms exist in the trust company, fund companies, securities companies , Insurance companies and other financial institutions. During the two sessions this year, Premier Li Keqiang of the State Council pointed out that the current systemic risk was generally controllable in the 2017 government work report, but the cumulative risk of non-performing assets, bond defaults, shadow banks and Internet finance was high alert.
This year, the supervision of the shadow bank has been strengthened, such as the first quarter of this year's assessment began to officially outside the table into the generalized credit, etc., inhibit the shadow bank growth. Zhou Xiaochuan said that at present many shadow banking business has been returned to the banking sector, was included in the bank balance sheet.
Data can be corroborated. According to the latest data released by the China Banking Regulatory Commission, as of the end of August 2017, the banking sector assets decreased by 13.8% year on year, industry debt ratio decreased by 1.6%. This is the same time since 2010, the same industry assets and liabilities at the same time reduced. Among them, the most aggressive joint-stock banks in the same industry fell the most. At the end of August 2017, the joint-stock assets of the joint-stock banks decreased by 45% from the beginning of the year. Concurrent loans for the same period since 2008 for the first time since the decline. At the same time, financial products growth slowed, from January to August 2017, the same industry financial products balance fell 2.2 trillion yuan.
The risk of mutual gold still exists
For another Internet company that has been repeatedly named, Zhou Xiaochuan said that many technology companies are currently offering financial products, some companies have obtained licenses, but some companies without any license are still providing credit and payment services to sell insurance products, which may Will bring competition and financial stability risk.
For the mentioned Internet insurance, Beijing Chinese Commercial News reporters learned that with the development of the Internet, online insurance has become a new choice for many young people. However, Internet insurance to consumers to bring low-cost convenient at the same time, there have been some risks, including publicity in the publicity of insurance, one-sided pursuit of explosive effect, resulting in consumer misunderstanding of insurance functions, serious damage The consumer's vital interests. Before the National Day holiday, the CIRC Insurance Consumer Protection Bureau also issued a message to remind consumers, in the Internet platform to buy insurance to focus on two types of risk, one "flicker", the second is "fish."
China Internet Finance Association President Li Dongrong recently in public activities also pointed out that China's Internet finance from the rapid development stage has entered the normative stage of development, but certainly the Internet at the same time, even dare not ignore the risk. Data show that as of June 30, 2017, China's P2P network loan platform number of 4979, the cumulative platform of the problem of 3209, 1770 in the operating platform. June P2P network loan industry national turnover of 2217.7 billion yuan, up 63.07%, effectively enhance the public confidence in P2P.
Industrial upgrading and regional finance Hubei Province Collaborative Innovation Center researcher Li Hong said that after the rapid development of China's Internet finance is mainly due to China's financial constraints and the scarcity of financial resources and other issues exist, with the gradual deepening of interest rate market, Internet financial growth The soil began to gradually digest. After the financial work conference, the five major firms set up Pratt & Whitney Finance, which specializes in enterprises and residents who have not been effectively served during the financial suppression period.
Financial coordination regulation avoids the form
In the latest speech, Zhou Xiaochuan also mentioned the asset management industry, he believes that the issue is more complex, the CBRC, the SFC and the CIRC three separate regulatory regulators for the same asset management behavior may have different regulatory requirements, the future should Straighten out and streamline the supervision of the management industry.
Diocheng Capital Chairman and Chief Investment Officer Sun Xinrong recently said that although China's capital management industry in recent years, the rapid development, but still in its infancy, the future development of space is very broad. From a global perspective, financial institutions are faced with low interest rates or even negative interest rates, it is necessary to rely on the industry to find a variety of asset investment categories. At present, the management industry is the world's financial services industry, the largest and fastest growing areas of one. Of course, the capital market is also facing the phenomenon of industry homogeneity, industry regulatory coordination and the industry itself is not enough to match the positive challenges such as innovation, if we can overcome these challenges, the future of China's capital market will play a leading role in the world.
Turning to the issue of financial holding companies, Zhou Xiaochuan pointed out that "some large private enterprises through mergers and acquisitions to obtain a variety of financial services license, but not the true sense of the financial holding company, during which there may be related party transactions and other illegal, Departmental transactions are not yet a corresponding regulatory policy. "
It is worth mentioning that the establishment of the Golden Society in July, to a certain extent, precisely because of strengthening the coordination of financial supervision, to fill the purpose of regulatory short board. Li Hong said that the financial coordination of supervision to avoid the form of the most important measures is to clear the regulatory objectives and responsibilities. He pointed out that the goal of financial supervision is to prevent and control financial risks and promote the financial industry to better support the real economy. In addition to its institutional level, it is also responsible for coordinating the supervision and supervision of the third party.
Since 2017 supervision of the shadow bank's position
China Banking Regulatory Commission Chairman Guo Shuqing in the implementation of the press conference proposed reform is one of the "let the shadow bank to shadow"
During the two sessions
2017 government work report will shadow bank included in the need to be highly vigilant of the "four financial risks" one
CBRC to convey the spirit of the National Financial Work Conference, once again reiterated efforts to prevent shadow banks and other key areas of risk
Zhou Xiaochuan, governor of the central bank, at the International Monetary Fund / World Bank annual meeting, the future focus on shadow banking and other four issues
To upgrade to the Financial Supervisory Authority
Recently, Shenzhen held a financial work conference, decided to put in the city financial office to pay the local financial regulatory bureau brand. The end of September, the Jiangsu provincial government also clearly the provincial financial work office, directly under the provincial government institutions to adjust the provincial government directly under the agency, linked to the local financial regulatory bureau brand. Prior to this, Hebei, Shandong and other places have set up a financial supervision bureau.
Local financial work office history is not long, only about 15 years, the first to set up local financial office is Shanghai, was established in 2002. In the three rows of the regulatory pattern, the financial office of the initial role of positioning is only a meeting coordinating body.
Industry insiders said that the local financial regulatory bureau is the most important role is a line with the formation of three regulatory dislocation and supplement. For example, the Shenzhen Financial Work Conference pointed out that in the city financial office to add the local financial regulatory bureau brand, the current decentralized local financial regulatory functions to integrate, further separation of development and regulatory functions, fill the regulatory short board, By the local responsible for all types of financial institutions.
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