Recently, the Shanghai Bureau of the China Banking and Insurance Regulatory Commission (CBIRC) held the 2020 Shanghai Banking and Insurance Regulatory Work Conference. Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the conference thoroughly implemented the spirits of the 19th National Congress of the Communist Party of China (CPC) and the Second, Third, and Fourth Plenary Sessions of the 19th CPC Central Committee, the Central Economic Work Conference, and the 2020 National Banking and Insurance Regulatory Work Conference. It reviewed the main work of 2019, analyzed the current economic and financial situation, and deployed key tasks for 2020.
2019marked a year of significant achievements under the correct leadership of the CBIRC Party Committee. The Shanghai Bureau resolutely implemented the decisions and deployments of the Party Central Committee and the State Council, deeply advanced comprehensive strict governance of the Party, and adhered to the Party's political construction as the统领. It firmly established the "four consciousnesses", continuously strengthened the "four self-confidences", and resolutely maintained the "two maintenances". The bureau solidly carried out the "Remain True to Our Original Aspiration and Keep Our Mission Firmly in Mind" themed education, continuously strengthened Party conduct and integrity construction, and fully promoted reform integration and regulatory efficiency improvement, achieving positive results in all aspects.
New progress was made in preventing and defusing financial risks. The bureau persisted in rectifying market irregularities, continuously promoted the construction of compliance demonstration zones, and severely cracked down on illegal activities. Throughout the year, 156 administrative penalties were imposed with a total fine of 62.5 million yuan. It actively carried out special campaigns against organized crime and evil, vigorously promoted the special rectification of online lending risks, and effectively strengthened case risk prevention and control. By the end of 2019, the non-performing loan ratio of the banking sector under its jurisdiction was 0.93%, maintaining among the best asset quality nationwide.
New strides were taken in serving the real economy. Support was provided for major strategies and key projects, with manufacturing loans reaching 757.17 billion yuan and affordable housing project loans increasing by 18% year-on-year. The bureau promoted financial services for the new free trade zone area and the integrated development of the Yangtze River Delta, with 6 branch banks in the new free trade zone area upgraded and opened, and the record-keeping management for insurance branches approved. Guiding opinions to further support the construction of the science and innovation center were released, with loans to tech enterprises reaching 263.9 billion yuan, up 8.8% year-on-year. A Shanghai model of metropolitan inclusive finance was established, with the banking-tax service platform upgraded and the nation's first provincial-level big data inclusive finance application platform launched. Micro and small enterprise loans reached 1.34 trillion yuan. A livelihood financial service system was built, encouraging pilot programs for individual tax-deferred commercial endowment insurance, long-term care insurance, and commercial health insurance purchased with medical insurance personal accounts. The construction of a full-process financial consumer rights protection system was deepened, and diversified dispute mediation was promoted.
The conference noted that the reform, development, and regulatory work of Shanghai's banking and insurance industries still face many challenges. It emphasized adhering to Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, upholding the Party's centralized and unified leadership over financial work, conscientiously implementing superior decisions and deployments, strengthening discipline and rules awareness, consolidating the achievements of themed education, promoting the construction of clean financial culture, enhancing grassroots Party building, and advancing high-quality development in all aspects.
The conference stressed resolutely winning the battle against financial risks. It will continue to solidify asset quality, strengthen dynamic risk investigation and response, crack down on emerging risks, and impose stricter regulatory measures on repeated violations. Risky institutions will be disposed of in a稳妥 manner, strictly implementing the "housing is for living in, not for speculation" principle, paying attention to cross-financial risks, strengthening liquidity risk management, advancing the special rectification of online lending, and严防 external risk transmission.
The conference pointed out the need to continue做好"six stabilities" work and improve the quality and efficiency of financial services to the real economy. Focusing on key areas, it will urge institutions to actively build a financial ecosystem integrated with high-tech, increase manufacturing and R&D loans, and vigorously develop green finance. For薄弱环节s, it will promote metropolitan inclusive finance, expand the application of big data platforms, and strengthen financial services for private and micro enterprises. It will focus on financial needs in social sectors such as elderly care and health, support consumption upgrading and livelihood improvement, and strengthen financial consumer rights protection.
The conference required deepening reform and opening-up to promote transformation and upgrading. It will improve innovative regulatory interaction mechanisms, strongly support the construction of the new free trade zone area and the integrated development of the Yangtze River Delta, and promote the implementation of guiding opinions to support the science and innovation center. The bureau will deepen financial supply-side structural reform, guide legal-person institutions to improve corporate governance, encourage the集聚 of high-quality institutions, urge differentiated and high-quality development of banks and insurance companies through survival transformation, optimize financial product structures according to Shanghai's reality, and continuously enhance the competitiveness of the international financial center.
