The Annual Working Conference of CFSTC Held in Beijing in 28th Dec. 2011. The meeting reviewed the work had done by CFSTC in 2011 and analyzed the situation CFSTC is facing currently, and made clear the tasks of CFSTC in 2012. Mr. Li Dongrong, the Chairman of CFSTC, member of the Party committee and president assistant of PBC, hosted this conference.
The meeting pointed out that under the guidance of the SAC and the PBC, and the support of the financial supervision departments, CFSTC sped up the implementation of financial standardization strategy, completed the Framework of the Banking Industry Standards System, and made the transition from "demand management" to "catalog management" of developing and revising standards, issued 7 financial industry standards, revised 49 financial industry standards, submitted 5 National standards for approval, established 3 sub-area standard implementing working groups covering Financial Statistics, ISO20022, financial IC cards, and promoted standards implementation work of the segments in-depth, and the establishment of unified financial standardization management system.
The Conference believes that the current world economy and finance tie closer and more competitive. Implementing the national financial standardization strategy is the objective requirements to adapt to the development of international trade and finance, and to integrate into the world economy, and is a inevitable choice to achieve interconnection and interworking, reduce costs, and raise benefits, and also is an important measure to improve the quality of financial products and the financial services and the macro-management level of national economy and finance and is a fundamental, strategic and innovative work to deal with the international challenges and improve the competitiveness of China’s financial industry. It should be cherished and implemented effectively.
The meeting defined the main tasks for 2012. The first step is to complete the election of CFSTC. Secondly is compiling the Financial Industry Standard System, building a multi-level and strong guiding standard system. Thirdly is amending the current effective financial international and industry standards timely, and strengthen the development of fundamental, general, methodological standards. Fourthly carrying out the implementation pilot and advancing the overall implementation of financial standards. Fifthly building enterprise standard management library and playing the dominant role of financial institutions for financial standardization work. Sixthly substantive participate into the international standardization activities and recommend relevant units to participate into the development of international standard.
Mr. Li Dongrong emphasized that to fully understand the meaning of implementing financial standardization strategy. It need to improve the understanding of financial standardization earnestly, increase the inputs, enroll the talents, perfect the standard system, and strengthen activities in the international financial standardization etc. He thought that financial standards system and qualified personnel should be constructed and standardized financial talent pool and financial standards pilots should be established, to strengthen the enterprise financial standardization and CFSTC should be constructed and the working mechanism of CFSTC should be improved furtherer.
Almost a hundred of delegates from People’s Bank of China, CBRC, CSRC, CIRC, the CFSTC’s member units and the related standardization researching institutions attended the meeting, and discussed further improve the financial standardization work.