Strengthened supervision to avoid systemic risks and bolster confidence

On Friday, the day after the conclusion of the Central Economic Work Conference, the national work conference for the financial system was held in Beijing. This is the first time that these two conferences have been held back-to-back.

It is essential to coordinate efforts to prevent systemic financial risks and support high-quality economic and social development with high-quality financial services. During the Central Economic Work Conference, when discussing the difficulties and challenges faced by China's economy, three specific areas were mentioned: real estate, local small- and medium-sized financial institutions, and illegal financial activities. These became the focal points of the national work conference for the financial system.

Regarding real estate, the conference proposed fully leveraging the urban real estate financing coordination mechanism to consolidate the market's stabilization, accelerating the establishment of a financial service system that matches the new model of real estate development.