Recently, the executive meeting of the State Council called for adhering to a prudent monetary policy, being flexible and appropriate, focusing on serving the real economy, and clarifying the access criteria for financial holding companies.
The meeting pointed out that according to the deployment of the CPC Central Committee and the State Council, a series of accurate and moderate financial policies have been implemented since this year to ensure the market players and promote the economic recovery growth.
The meeting called for the next step to adhere to a stable monetary policy, be flexible and moderate, maintain policy strength and sustainability, avoid flooding, and guide more capital to flow to the real economy, so as to promote the smooth operation of economy and finance. In order to better serve the real economy and standardize the financial market order, the meeting adopted the decision on the implementation of the access management of financial holding companies, which made it clear that non-financial enterprises, natural persons and other holding or actual controlling two or more different types of financial institutions, and the total assets scale of the holding or actually controlled financial institutions meets the requirements, they should apply for the establishment of financial holding companies.
The meeting also called for the supervision of financial holding companies to be carried out in accordance with laws and regulations, steadily and orderly, prevent and resolve risks, and enhance the ability of financial services to the real economy.
