Analysis: Xi Jinping recovers the money bag The status of the central bank is no longer the same as before. | Jin Wenwei | NTDTV Financial Monitoring System



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[New Dynastie Tang heure de Beijing, Juillet 13, 2018] The establishment of the CCP Financial Stability Development Committee is considered to be the withdrawal of Xi Jinping from the bag of money. Although the role of the central bank as an important institution in the CCP's financial regulatory system has not changed, it is believed that the central bank's position in the financial regulatory system does not exist. Is no longer the same.

The State Council of the Chinese Communist Party announced the establishment of the new Financial Stability Development Committee (Jianwen Committee) in early July and organized an emergency meeting to study and prevent risks major issues and other related issues. According to the statement issued by the Jinan Stability Committee, Liu He, Deputy Prime Minister of the State Council, chaired the meeting and badured the chairmanship of the commission, including deputy director Yi Gang. The other deputy director is Ding Xuedong.

Members of the Finance Committee include: Guo Shuqing, Liu Shiyu, Pan Gongsheng, Han Wenxiu, Lian Weiliang, Liu Wei and other officials.

Lu Media said that the meeting reviewed the three-year action plan proposed by the Bureau of the Financial Committee to prevent and resolve major risks, and has deployed the main tasks in the near future.The meeting decided to hold regular plenary meetings of the financial committees in the future. Targeted research and coordination of financial sector issues.

Some media badysts believe that the establishment of the Golden Stability Commission indicates that supervision of financial sector authorities is no longer a topic in the traditional line of both parties, but raises the level of national security and status is improved. Movement of money bag. As a major institution in the CCP's financial supervision system, the declining decision-making role of the central bank is also a necessity.

The CPC financial regulatory agencies, including the central bank, the China Securities Regulatory Commission, the China Banking Regulatory Commission and the China Insurance Regulatory Commission, a three-member meeting.

Some Hong Kong media commented that the original tripartite conference was not able to regulate the development of Internet financing such as "e-rental", which led to chaos, and the tripartite mode of supervision and tripartite in recent decades. Lead to the solidification of interests, and even the phenomenon of self-theft. Yao Gang, Assistant President Zhang Yujun, Assistant Chairman of the Chinese Banking Regulatory Commission, Yang Jiacai, and Chairman of China's Insurance Regulatory Commission, Xiang Junbo, have all been # 39; object of an investigation. I had a problem if I had a problem.

The incident of the "inner ghost" in "the national team" in 2015 and the rescue of "the national team" were considered by the outside world as a "coup d & # 39; Economic State "by Jiang's faction against the authorities of Xi Jinping.

The comment estimates that after more than 20 years of development, the Chinese financial industry has formed a huge interest group, hindering the continued development of the Chinese financial industry. The Golden Stability Commission placed "stability" ahead of "development", showing that the authorities place financial risk prevention and control in a larger position, preferring to be slower and more stable.

Jin Wenwei's proposal began at the National Financial Work Conference in July 2007. Xi Jinping emphasized at the meeting: We must strengthen the central direction of financial work and adhere to the centralization and centralization of government central. Lead and perfect the system and mechanism for central management of financial work, and form a model for prevention and control of financial risks in a national chess game.

At this meeting, Xi Jinping announced the creation of the Golden Stability Committee, an organization that globally protects against financial risks, maintains financial security and coordinates financial development, Jin Weng is considered a "super regulatory agency ". The level is higher than "one line and three meetings".

At that time, Xi Jinping emphasized that financial security is an important element of national security and stated that the prevention of systemic financial risks is the eternal theme of financial work and the strengthening of the supervision of the system. financial.

The badysis believes that this change has changed the original regulatory system, but it has not changed the power of the central bank.

The central bank's law has not changed the position of the central bank under the direction of the State Council, by formulating and implementing monetary policy, by preventing and defusing financial risks and maintaining financial stability. With regard to personnel arrangements, most Jinwen Committee officials are from the Central Bank and most of them are also members of the Central Bank Monetary Policy Committee.

From the point of view of institutional relations, one of the functions of the Central Bank is to formulate a strategic plan for the reform and development of the financial industry, which one of the functions is to "review the major projects of reform and development of the financial sector". "That is to say, the plan prepared by the central bank is not simply to form a circle for the leaders, but to submit it directly to the Jinwen Club for deliberation.

The Central Bank will perform the functions of the Golden Stability Committee and strengthen financial oversight Coordinated expressions, as well as information on the establishment of the central bank by the Golden Stability Commission's Bureau, the central bank has more responsibilities to stabilize finance.

(Reporter Li Yun Report / Publisher: Ark)

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