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PBOC SH HQ & Other Depts Jointly Convene Seminar for Financial Institutions, Note Importance on Implementing '16-Point Plan' on Real Estate Finance
The Shanghai headquarters of the PBOC, the Shanghai branch of the National Administration of Financial Regulation (NAFR), the Shanghai Securities Regulatory Commission, the Shangha...
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PBOC SH HQ & Other Depts Jointly Convene Seminar for Financial Institutions, Note Importance on Implementing '16-Point Plan' on Real Estate Finance
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The Shanghai headquarters of the PBOC, the Shanghai branch of the National Administration of Financial Regulation (NAFR), the Shanghai Securities Regulatory Commission, the Shanghai Municipal Financial Regulatory Bureau and the Science and Technology Commission of Shanghai Municipality recently jointly convened a seminar for financial institutions.

The meeting called for further optimising the structure of capital supply, revitalising the stock of financial resources, and increasing financial support for major strategies, key areas and weak links. Works in the 5 focus points of science and technology finance, green finance, inclusive finance, pension finance and digital finance need to be advanced. These works would be the driver of the high-quality development of Shanghai's financial sector and enhance the competitiveness and influence of Shanghai as an international financial centre, the meeting noted.

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The meeting pointed out that financial institutions in the banking sector should implement the requirements of cross-cycle and counter-cyclical adjustments, and reasonably grasp the rhythm of credit investment in Shanghai. Securities funds and futures operators should take into account the actual situation in Shanghai, strengthen the proactive connection and service support, and enhance the exploration and early and pilot implementation in areas such as expanding systematic openness.

The meeting also mentioned that financial support should be increased in two key areas, namely national major scientific and technological tasks, and technology-based small and medium-sized enterprises (SMEs). Financial institutions should implement the "16-Point Plan" on real estate finance and meet the reasonable financing needs of real estate enterprises of different ownership modes, without discrimination.



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