Guo Shuqing: Effectively restrain the blind expansion of financial institutions

Following yesterday’s article by the central bank governor in the “People’s Daily” to study the spirit of the 20th National Congress, today the chairman of the China Banking and Insurance Regulatory Commission also spoke out. The learning spirit of these two can be regarded as the future direction of China’s financial supervision.

Chairman Guo mentioned that it is necessary to effectively restrain the blind expansion of financial institutions and prevent the disorderly expansion of capital in the financial field, which is worth pondering. As we all know, the main participants in China’s financial institutions are state-owned holding companies, but the establishment and brutal growth of some private financial holding companies in recent years have brought great risks to China’s financial system, such as Tomorrow, Anbang and HNA, There are also serious problems in the management of some city commercial banks and village banks, so the accidents are basically in these areas.

In addition, the issue of corporate governance and internal control of financial institutions is also very important. In fact, in recent years, many large state-owned banks have also experienced such and other problems, such as the “Crude Oil Treasure” incident of the Bank of China, and Shaanxi Gold Mortgage defrauded 19 banks. The 19 billion yuan loan event of financial institutions also reflects internal management problems.