On the afternoon of March 7, Wu Jin, Secretary of the CPC Jingzhou Committee, emphasized at the Symposium on Financial Services 2023 that it is necessary to fully learn and implement the guiding principle of the 20th CPC National Congress, conscientiously implement General Secretary Xi Jinping’s key expositions on financial services, and stimulate the real economy through financial services to stir up high-quality development on both sides of the Jingjiang River, and promote the building of a demonstration zone for high-quality development in the Jianghan Plain.
After speeches from attendees on behalf of financial institutions and entities directly under the city government, Wu stated that, facing demand contraction, supply shocks and weakening expectations as well as unexpected events such as the recurring COVID-19 pandemic, the city’s financial system revolved around its central tasks and kept in mind the big picture, taking active part in stabilizing growth, building up confidence, advancing reform, preventing risks, and improving people’s livelihood. By fully leveraging these roles, it made important contributions to high-quality economic and social development of Jingzhou.
He emphasized that the city’s financial system must acquire a deep understanding of the decisions, deployment and policies of the CPC Central Committee on financial services. Based on the characteristics of Jingzhou’s current status where policy support concurs with the reshaping of comprehensive advantages and the outburst of accumulated strength, Jingzhou should fully leverage any possible opportunities, take a down-to-earth attitude, and bravely shoulder heavy responsibilities and try to be the best in the efforts to boost economic development. It also should focus on supporting the real economy, and promote the efficient and smooth movement of funds, capital, assets, and resources through targeted adjustment of financial flow, and revitalize every aspect of the economy based on financial services.
He also emphasized the necessity to implement targeted policies to truly stabilize and revitalize financial flow as such to ensure efficient and high-level financial services for the real economy. It is necessary to make investments with confidence and issue loans to good hands, strive to build the “4+6+11” (four industries with an output of RMB100 billion, six industries with an output of RMB50 billion, and 11 industry clusters with competitive edges) modern industrial system, make real efforts to guarantee the fulfillment of “four functional goals,” expand effective investment, boost consumption, support market players, optimize the maturity structure and cost of loans, and expand the scope of financing and loan-to-deposit ratio, and ensure wiser loaning decisions. Jingzhou should encourage more financial institutions to start their branches in Jingzhou, innovate financial products and services, make tremendous efforts to develop technology finance, green finance, and inclusive finance, and support the real economy with the financial system. Jingzhou should also expedite the construction of a multi-level capital market, promote the listing of companies from upstream to downstream following the order of "preparation, cultivation, guidance, file submission, and listing", and build Jingzhou’s own capital market.
He proposed the requirement to collaboratively create a good financial ecosystem. The city should better coordinate development and security, strengthen financial risk monitoring, early warning and analysis, upgrade the internal management system of financial institutions, improve the public credit information platform, and severely crack down on illegal fundraising, financial fraud, insurance fraud and other illegal financial activities, and create a favorable financial credit environment. Jingzhou authorities should strengthen the connection between the government, banks and companies, build a communication platform based on the "Ten Questions, Ten Solutions" campaign, and establish effective platforms for communication activities to properly solve problems that impede accessibility, affordability, and efficiency of financing. All types of financial institutions should keep the fundamental task of “getting to know Jingzhou, showing love to Jingzhou, and making Jingzhou a thriving place” in mind, settle down in Jingzhou and get fully integrated into the city’s financial system as such to jointly promote the healthy development of economy and finance.
The symposium was chaired by Liu Huiwen, a member of the Standing Committee of the CPC Jingzhou Committee and Executive Deputy Mayor of Jingzhou. Attendees included Xia Guanghong, a member of the Standing Committee and Secretary-General of the CPC Jingzhou Committee, and Deputy Mayor Jin Peng.
The symposium begun with a report from the Jingzhou Financial Bureau on the status of the city’s financial services. The report was followed by speeches from attendees on behalf of Jingzhou Central Branch of the People’s Bank of China and Jingzhou Branch of the China Banking and Insurance Regulatory Commission. After that, there were reports from representatives of various financial institutions and responsible persons of Jingzhou Industrial Investment Group, as well as speeches from attendees on behalf of involved organizations directly under the city government.