The Path and Keys for China to Boost a Strong Financial System
In October 2023,the Central Committee of the Communist Party of China held a Central Financial Work Conference,which clarified the direction for the future reform,develop-ment,and opening up of China's finance.There are two particularly noteworthy points in the content of this meeting:firstly,it is proposed to accelerate the construction of China to a strong financial system;secondly,special emphasis is placed on the hub role of the capital market.These two points have a guiding role in the future development of China's finance.The most important reason for China's development from a country with poor financial re-sources at the beginning of the reform and opening up to a well-developed financial system with vast and abundant financial resources today is its unwavering commitment to the path of a market economy with Chinese characteristics and the fundamental national policy of reform and opening up.In the process of building China into a socialist modern country in an all-round way and achie-ving the second centennial goal,we must aim to accelerate the building of a financial system and promote high-quality financial development,so as to provide strong support for Chinese path to modernization to comprehensively promote the building of a strong country and the great cause of national rejuvenation.In order to achieve the goal of becoming a strong financial system,China needs to build a fi-nancial system based on its own national conditions and development goals,emphasizing the in-clusiveness of finance and the development of digital finance.Moreover,in the process of building a strong financial system,we should not only focus on individuality,but also reflect the common connotations of marketization,rule of law,and internationalization of financial powers.In the process of becoming a strong financial system,we need to better leverage the hub function of the capital market represented by the stock market and the bond market,and build China's capital market into a transparent,highly liquid,and growth oriented wealth management market.While fully acknowledging the significant development of China's capital market,we also need to soberly recognize the gap between China's concept and institutional design and the goal of becoming a strong financial system.On the basis of a profound understanding of the goals,con-notations,and practical starting points of a strong financial system,we can find the path to a-chieving a strong financial system.
a strong financial systemcapital marketstructural reformmarketizationrule of lawinternationalization
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