September 6, 2018, the 2018 Working Conference of CFSTC and the 2nd Plenary Meeting of the 4th Committee were held in Beijing. Fan Yifei,member of the Party Committee and Vice-President of the People's Bank of China,Chairman of the CFSTC, attended the meeting and delivered a speech. Huang Hong,who is the Vice Chairman of the CBRC and Administrative Deputy Director of the CFSTC, Zhao Zhengping, Vice Chairman of the CSRC and Standing Deputy Director of the CFSTC,Yu Xinli, Director of the Standards and Technical Management Department of the General Administration of Market Supervision, attended the meeting and made speeches.
Fan Yifei pointed out that China's financial standardization industry started from the exploration and has entered an overall progress stage after nearly 30 years’development. The financial standard system has been initially established ,and basically realized the full coverage of the financial sector and functions.Financial standardization has played an active role in promoting the healthy development of China's financial industry, supporting the real economy and improving people's lives.With China's deep participation in international financial standardization activities, it’s discourse power and influence kept rising.
Fan Yifei emphasized that financial standardization is facing a new situation in the new era.Quality growth requires financial standards to play a bigger role. On one hand,modern financial governance puts higher demands on financial standards.On the other hand,the financial market liberalization calls for more support from it.The work of financial standardization should be guided by Xi Jinping's Thought on Socialism with Chinese Characteristics for a New Era and the spirit of the 19th National Congress of the Party.Besides,it thoroughly implemented the spirit of the Central Economic Work Conference and the National Financial Work Conference, adhere to the concept of people-centered financial development.We should strengthen the supply and seize the implementation of financial standards,persist in laying equal stress on “coming out ”and “bringing in” strategies.We also need to encourage the practice of conducting investigations and studies energetically,pay close attention to the implementation of financial standards.The role of financial standards is about to lead and support the keynotes、difficults and focuses of financial reform and development, and propell financial standardization to a new level.
Huang Hong pointed out that the standardization of Chinese bank insurance has made positive progress in recent years. In this area,standards supply has been optimized,system construction has been strengthened continuously,the publicity and research have been carried out in an orderly manner. In the years to come,we will enhance the ability to perform duties,strengthening Top-down and perfect operation mechanism of standardization. The next step is to optimise regulation and market standards supply, exert prescribes hard rule and normative leadership of standards, so that we could support the supervision of the bank insurance industry better.
Zhao Zhengping said that standard is an important support for the healthy development of capital market.Standardization is a vital task to promote the securities and futures industry in improving the governance capacity and risk prevention level.Establishing a capital market product standard system,increasing the development of standards in the securities and futures fields ,strengthening the implementation of standards,and applying industry data model in industry will be explored subsequently.The financial standards’globalization could help capital market“go global”,support its innovation and standardized development.
Yu Xinli said that financial standardization development is undergoing an important period of opportunities.The CFSTC should seize opportunities, innovation mechanisms, strengthen management, enhance the advanced nature effectiveness and applicability of standards, and guide financial standards to serve the development of the real economy better.By compacting the foundation of financial standardization constantly and improving application level practically, financial standards can help build a high-level, open financial system.
Li Wei, who is the Vice Chairman of the CFSTC and Director of the Technology Department of the PBC, reported on the work of the CFSTC since the last annual meeting and the main points of financial standardization in 2018-2019.In the speech of Guo Ningning, the Deputy Governor of the ABC which is the rotating director of the CFSTC, the development situation of the standardization in ABC was reported.
Yao Qian, Secretary General of the CFSTC, presided over the meeting. Tan Jiong, Vice-President of ICBC, Shen Rujun, deputy governor of BCM, Liu Qiuwan, CIO of BOC, and Jin Panshi,CIO of CCB,attended the meeting.More than 200 people include financial standardization experts and deputies from the People's Bank of China, the Banking Regulatory Commission, the China Securities Regulatory Commission,the National Foreign Exchange Management Bureau, State Administration Market Regulatory,sub committee of the China Financial Standardization Technical Committee, committee member units, the observer units, and the special group, the Ministry of Industry and Information Technology, the China National Institute of Standardization, the China Electronics Standardization Institute, China National Information Technology Standardization Network, the National Information Security Standardization Technical Committee, National Technical Committee for Standardization of Anti-counterfeiting, Cryptographic Standardization Technical Committee attended the meeting. (Finish)