, China

China's 12th five-year financial plan seeks more financial controls

China has released its 12th Five-Year Plan for the Development and Reform of the Financial Industry it hopes will promote the continued healthy development of its battered financial industry.

The plan focuses on achieving results in seven key areas: improvement of financial control; optimization of organizational system; development of the financial market; deepening of financial reform; expansion of opening-up; maintenance of financial stability and consolidation of infrastructure.

As a result of measures in the new plan, China expects that the added value of the financial services industry will be around 5% of GDP by 2017, with the scale of social financing maintaining moderate growth.

China will attempt to achieve overall control of financial risks by maintaining a relatively high standard in the quality and level of capital in major banking financial institutions. The non-performing loan ratio shall be kept at a relatively low level, and the capacity for risk management control shall be constantly improved.

China said it will achieve significant progress in financial restructuring if the direct finance of non-financial enterprises is above 15% of the total social financial scale.

It also expects progress in the reform of market-oriented interest rates and the improvement of the RMB exchange rate system. Deeper reforms of financial institutions should see significant development in the modern enterprise system for large financial institutions with innovation and risk control management greatly improved.


 

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!