No Sustained Depreciation Of The RMB, The Basic Ministers Jointly Launched The "Demining" For The Economy.

The four session of the twelve National People's Congress held a press conference at the multi-functional hall of the Mei Di center. It invited the governor of the people's Bank of China Zhou Xiaochuan, vice president Yi Gang, vice president and director of the State Administration of foreign exchange Pan Gongsheng and vice president Fan Yifei to answer questions from Chinese and foreign reporters on the issues related to "financial reform and development".

The 12 session of the twelve session of the four session of the National People's Congress welcomed the "super Saturday".

The chairman of the Central Bank of China, the chairman of the SASAC and the three chairmen of the SFC, the CBRC and the CIRC went on stage to respond to misunderstandings and worries about the Chinese economy.

In addition to the "hard landing" of the economy, the reason why the outside world has been singing empty China's economy has added "continued depreciation of the renminbi" in the past six months.

Zhou Xiaochuan, governor of the people's Bank of China, made clear on the 12 day that from the two basic aspects of the balance of payments and domestic prices, there is no objective basis for the continued depreciation of the renminbi, and China has no subjective intention to promote exports by devaluing the renminbi.

The reason why the international financial market is expected to depreciate the renminbi is Zhou Xiaochuan. Frankly speaking, A shares are a key factor.

Liu Shiyu, chairman of the SFC, made a targeted response on the 12 th.

He affirmed the necessity of official "bailout" last year, and stressed that if the Chinese capital market is completely failed in the future, regulators should still make decisive decisions.

For the negative factors such as "registration system" and "withdrawal of the capital market" and other psychological factors that affect the market psychology, he also launched a demining campaign, emphasizing that in the long run, it is too early to talk about the withdrawal of bailout funds.

In China, due to the lack of adequate investment channels, the "property market" and "stock market" tend to "click on the gourd and float."

The stock market continues to slump, and people worry that the pfer of funds will further boost the housing bubble.

"North up the Guangzhou Shenzhen" property market recently rose sharply, Zhou Xiaochuan 12 days clearly indicated that behind its promoter "Shoufu loan" is illegal.

The central bank also said it would crack down on the provision of "down payment" financing, increase purchase leverage, and break through the housing credit policy in disguise.

Insurance investment risk? Overall risk control

In addition to the property market, worries about false prosperity still exist in the insurance industry.

By the end of 2015, 10 insurance companies in China had invested 365 billion yuan in acquiring a number of shares of listed companies.

Xiang Junbo, chairman of the China Insurance Regulatory Commission, pointed out that the strengthening of equity investment is the main trend of China's economic development.

But he also said he should be vigilant against the risks that a few company takeovers might pose.

Xiang Junbo promised to strengthen supervision measures, strengthen risk warning and control, and ensure operation under the framework of rules permitting and laws and regulations.

Risk of bad assets? - controllable overall risk

In the case of financing still depends mainly on bank credit, regardless of the stock market game or property investment, regardless of insurance card or state-owned enterprise reform, once the risk arises, it will implicate banks.

Shang Fulin, chairman of the China Banking Regulatory Commission (CBRC), pointed out a series of indicators on 12 days: the bad loan ratio of China's commercial banks is lower than that of the international level, and the profit rate of capital is better than that of some developed countries.

He stressed that the CBRC will take precautionary measures to discharge four landmines, including credit risk, cross financial product risk, liquidity risk and external risk.

Risk of SOE reform? - there will be no laid-off tide.

The core task of China's economy in 2015 is to supply capacity structural structural reform, which is marked by capacity and inventory.

However, in the late 90s of last century, a large number of employees were laid off from the reform of state-owned enterprises in China.

Therefore, the performance of state-owned enterprises in the current round of reform is worrying.

"The foundation is much thicker than it used to be."

Xiao Yaqing, director of the China SASAC, stressed on 12 th that the current managers in the new economic situation and market competition are increasingly mature in handling the relationship between the development of enterprises, the interests of employees and the market competition. Their ability to control and control will not mature in 90s.