LINE

Text:AAAPrint
Economy

China to speed up financial reforms 2016-2020

1
2015-11-04 10:32Xinhua Editor: Gu Liping

China has outlined its financial system reforms for the next five years vowing to establish a transparent and healthy capital market, according to a document issued by the Communist Party of China (CPC) Tuesday.

According to the CPC Central Committee's proposals on formulating the 13th Five-year Plan (2016-2020), China will:

- Overhaul the issuance and trading mechanism of stocks and bonds, encourage direct financing, and lower leverage ratio.

- Make the banking system multi-level and diverse, and allow more private entities to establish banks.

- Give more financial support to small and micro-sized businesses and rural regions, in particular, impoverished areas.

- Continue to push forward market-oriented exchange and interest rate calculations.

- Regulate the development of Internet financing

- Speed up the establishment of a disaster insurance mechanism and pilot the trade of insurance assets.

- Fiscal revenues will be shared between the central government and local governments in a more reasonable way.

- A standard financing mechanism for local governments will be established.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.