To build a modern financial system, in terms of its inherent requirements, it is necessary to grasp the following focus points.
Improve the modern financial system
The first is the rule of law. The law is the basic rule for the operation of the financial market. The soundness of the legal system determines the fairness and openness of finance. To establish a modern financial system, a fair and effective legal environment must be established. The construction of an effective legal system focuses on clarifying the operating rules of the financial market, increasing the level of participation in the financial market, clarifying the behavioral responsibilities of market players, improving the level of information disclosure, implementing legal responsibilities for risky behaviors, and prosecuting corresponding violators of legal rules and causing risks. legal liability. The second is the principle of risk-taking. On the basis of risk warning and standardized information disclosure, follow the principle of risk-taking, and reduce the risk-taking impulse and cost-shifting behavior of individuals, enterprises, financial institutions, and local governments. The third is the principle of moderate competition. Encourage financial institutions to innovate and develop under the premise of controlling their own risks, and realize the diversified and comprehensive development of the integration of the financial system and the real economy.
Optimizing the modern financial structure
Based on the starting point of coexistence and co-prosperity of economy and finance, the adjustment and optimization of modern financial structure should conform to the direction of industrial structure adjustment, promote the integrated development of traditional financial institutions and Internet financial institutions and businesses, and promote the compliance development and business innovation of small and medium-sized financial institutions. Promote the popularization of financial technology in various business fields, and promote the development of inclusive finance and green finance. It is necessary to optimize the industrial and regional layout of financial institutions, build and improve a modern financial organization system and a modern financial market system, improve financial innovation capabilities and service levels, and enhance the comprehensive strength, international competitiveness and anti-risk capabilities of the financial industry. It is necessary to improve the banking organization system, promote the standardized development of securities industry institutions, encourage innovation and development of insurance industry institutions, continue to promote the comprehensive operation of the financial industry, and encourage and guide private capital to enter the financial service field.
Enriching modern financial products
First, it is necessary to build a comprehensive and multi-level financial support service system such as venture capital, bank credit, bond market, and stock market, and form a financial product line that various capital intermediaries perform their own duties, cover the entire life cycle of industrial development, and cover the real economy. The different subdivision needs of the real economy have laid a solid foundation for the realization of a good circulation of the “blood” of the real economy. The second is to adapt to the general trend of development that relies more on innovation, creativity and creativity. In view of the inherent defect of the current financial product system mainly based on indirect financing, which is overly dependent on stable cash flow, combined with the low value of tangible assets and fluctuating cash flow in innovative and creative industries With the characteristics of large differences, we will optimize and even innovate the supply of financial services, and promote the further development and upgrading of my country’s strategic emerging industries based on the principle of “lighting on profits, focusing on technology, and focusing on R&D” that is more conducive to the financing of innovative enterprises. The third is to meet the needs of differentiated financial services proposed by the development of the real economy and the improvement of people’s quality of life, according to the characteristics of different market segments, adhere to the market demand-oriented, make full use of new concepts, new thinking, and new technologies, and actively explore new Products, new channels and new models, and actively develop personalized, differentiated and customized financial products.
Improve modern financial infrastructure
It is necessary to improve financial laws and regulations, and strengthen the standardization of financial operations; standardize the financial accounting and statistical system, and improve the level of informatization in the financial industry; build a team of financial talents to ensure the safe and efficient operation of the financial system. Specifically, it is necessary to improve the basic system of the capital market, control the two barriers between market entry and market exit, strengthen the supervision of the whole process of transactions, steadily promote the reform of the registration system, and enhance the vitality of the capital market with a better access and elimination mechanism. ; Strictly disclose information, improve the market’s reasonable valuation system, guide funds to participate in long-term investment, build a clear and professional accountability mechanism, a class action system, a defense evidence system and a reconciliation system, etc., and promote the formation of regulatory constraints, market self-discipline, and social supervision. A complementary market order provides financing channels, value discovery mechanisms, risk sharing mechanisms and effective external governance mechanisms for the development of the real economy;
In a word, the modern financial system should be an inclusive, green, open, and digital financial system that develops in coordination with the real economy, technological innovation, and human resources, which will help to solve the main contradictions facing my country’s economy and society in the new era.