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[National People's Congress Standing Committee | The report proposes five aspects to consider for the next step in China's financial work] The State Council's report on financial work was submitted to the 25th meeting of the 14th National People's Congress Standing Committee for review on November 3. The report introduces the next steps for China's financial work from five aspects: continuing to implement a moderately loose monetary policy, further strengthening and improving financial supervision, and improving the adaptability of financial services to the real economy. The report shows that since October 2025, the financial system has improved the quality and efficiency of serving the real economy, comprehensively strengthened financial supervision, deepened financial reform and high-level opening up, maintained financial stability and national financial security, and achieved new results in various tasks. A set of data in the report reflects the financial support for the real economy: from October 2025 to September 2026, the scale of social financing increased by 33 trillion yuan; 88 companies in Shanghai and Shenzhen A-shares issued stocks for the first time, raising 247.2 billion yuan, of which nearly 90 were high-tech enterprises. At the end of September 2026, financial "Five Big Articles" loans increased by 10.1% year-on-year. Since its establishment in May 2025, the "Technology Board" of the bond market has issued a total of 3.3 trillion yuan in technological innovation bonds. According to the report, China’s financial work has five aspects to consider in the next step. In terms of continuing to implement a moderately loose monetary policy, we will comprehensively use a variety of tools to maintain sufficient liquidity, and continue to evaluate and improve the monetary policy framework. In terms of further strengthening and improving financial supervision, we will severely crack down on illegal financial activities, explore the application of artificial intelligence in financial management and services, and strengthen the protection of financial consumers' rights and interests. In terms of improving the adaptability of financial services to the real economy, the report proposes to improve the financial "five major articles" statistical system and assessment and evaluation system, and increase financial support for the construction of "six networks", technological innovation, small and micro enterprises, etc. In terms of steadily deepening financial reform and high-level opening up to the outside world, we will expand the international use of RMB, encourage more foreign-funded institutions and long-term capital to develop businesses in China, and further accelerate the construction and development of an independent and controllable RMB cross-border payment system. In addition, in terms of steadily resolving risks in key areas, the report proposes to implement monetary policy tools to support the capital market, do a good job in market transformation after the withdrawal of financial support financing platforms, and normalize the operation of the real estate "whitelist" mechanism. (Xinhua News Agency)
🕐 2026-11-03 17:36
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