【Observation and thinking】
Author: Huang Shaoan (Professor of Chair at the Institute of Economics of Shandong University)
In modern economic systems, the importance of finance is self -evident.The Central Financial Work Conference held in October 2023 proposed to accelerate the construction of a strong financial country and do a good job in five major articles on science and technology finance, green finance, inclusive finance, pension finance, and digital finance.Modernization is crucial.
Do a good job of five major financial articles and gain a new advantage of financial development
The development of the financial industry to modern times has become a certain independent economic operation system. It not only has a complete industrial system or industrial chain, but also a set of regulatory systems.For the allocation of other resources, it also needs to be driven by the financial system.International economic relations and international resource allocation also use the financial system as a link to a large extent.Therefore, the financial system can be regarded as an important hub for domestic economic cycle and international economic cycle.
my country’s emphasis on five major articles in finance is an important strategic arrangement based on the development trend of finance. It helps to take the road of financial development with Chinese characteristics and form a competitive advantage in the economic and financial sector.Compared with the traditional financial business, the five major articles in finance must be the “new” article of finance in a certain sense, grasping the correct direction of financial modernization.In financial practice, do these five major articles, financial products and services, financial technology means and business processes, financial formats and financial systems, and they need to innovate accordingly to striveThe new field is at the forefront, gaining new advantages of financial development, and adopting new financial concepts, financial technology, and financial rules to transform and improve the traditional financial industry, and strive to go to the high -end of the international industry chain and value chain.
Support with digital technology and realize “two legs walking”
As a representative area of the current financial business development, technology finance, green finance, pension finance, inclusive finance and digital finance have their own independence, close contact and mutual promotion, and they are inseparable from digital technology.support.Science and technology finance, emphasizing the direction of financial resources allocation is the scientific and technological industry and scientific and technological innovation activities; green finance, emphasize the allocation of financial resources to the green industry; pension finance emphasizes that finance will better serve the aging group, and use modern financial means to manage it and use it well.There are all kinds of “old -age money”; inclusive finance emphasizes the allocation of financial resources to support the production of small and medium -sized and micro -enterprises and ordinary residents, and promote common prosperity; digital finance is the organic integration of finance and digital technology.Attributes.Regardless of digital finance, or technology finance, green finance, pension finance, and inclusive finance, they must pay attention to the support and promotion of digital technology.For example, in the traditional financial system, financial institutions have been limited by large -scale economy by financial institutions. However, with the support of the Internet, big data and other financial technologies, the development of inclusive finance is more likely.Carry out related financial businesses wider.In addition, the development of digital finance and the development of technology finance and green finance has a lot of content in the technical level that can achieve technical sharing and improve financial services efficiency.
Five financial articles are proposed from different dimensions. They are closely linked to each other. They can be led by digital technology, but many departments need to cooperate in cooperation to make five large articles well.Pay attention to the development of five major articles in financial technology with digital technology, and you need to realize “two leg walking”: On the one hand, encourage and standardize digital financial institutions and corresponding financial business development, so that it will form a new financial enterprise and financial industry.That is, the digital finance industry; on the other hand, according to actual needs and use capabilities, the purpose is to improve efficiency, and the traditional financial industry is used to transform the appropriate digital technology, that is, financial digitalization.
The focus is on the better service of the real economy and avoid “getting off the reality”
China is a large population country, and more than 1.4 billion people with a population of more than 1.4 billion people must have a strong and powerful real economy support.China has a complete manufacturing industry and the world’s largest agriculture, which is a veritable real economy country.However, the development of my country’s real economy also needs to improve efficiency and quality.As the main body and core of the modern service industry, it is the fundamental to provide financial services for the real economy.The higher -quality development of the real economy is inseparable from the better development of finance.
At the same time, the financial industry is another special industry. It has its own development laws. Under certain conditions, it may be self -developed from the real economy within a certain limit.In order to prevent the financial industry from “getting rid of reality”, it is necessary for the effective scientific regulations of the financial market.To do a good job of five major financial articles, we must take the service real economy as the fundamental concept and direction of development.As a big country in the real economy, finance better serve the real economy has huge market space and development potential.At present, the key to transforming economic growth and improving the quality of economic development is innovation, including technological innovation, institutional innovation, and conceptual innovation. These require financial support.Therefore, science and technology finance, green finance, inclusive finance, pension finance, and digital finance should be developed around the technological innovation, institutional innovation, and format innovation of the real economic sector, and always prevent from deviating from the “financial service real economy”.trail of.
Give play to the role of the government and the market, and achieve “both alive and stable”
General Secretary Xi Jinping pointed out that “financial work, economy; stable finance, stable economy.”Finance is the core of the modern economy. To carry out financial activities, it is necessary to promote its development vitality through innovation, but also require scientific and effective regulatory regulations to regulate its development to prevent and resolve various financial risks.This is the case for technology finance, green finance, inclusive finance, pension finance, and digital finance. On the one hand, it is necessary to strengthen innovation through high -tech talents and high -tech and management models. On the other hand, supervision must be strengthened.If you only emphasize stimulating vitality and not paying attention to scientific supervision, “vitality” may evolve “chaos”.In order to achieve “living but not chaotic” and “both alive and stable”, it is necessary to play a good role in the government and the market.It is necessary to rely on the market to optimize the allocation of financial resources, but also rely on government regulations to regulate and guide the development of the financial market.The role of the government is mainly reflected in two aspects: one is to “set rules” to the market, that is, formulate systems and cooperative laws and regulations.In response to the new financial forms and activities, we must be inspired and restrained, especially the (laws and regulations) systems, first, and then break. Laws and regulations must be authoritative and normal.The second is to strictly, treat it with peace, and normalize the law enforcement, so that all market entities “observe the rules” are normalized, so that they can have continuous confidence and stable expectations.In short, it is necessary to ensure that the market entity is motivated and the market is vitality, but also the market entity must “abide by the rules” and do not cross the track. The role of the government is to cultivate and standardize the market. Legal and law enforcement must be in place but cannot be offside.
“Guangming Daily” (11th edition 11, April 02, 2024)
Source: Guangming.com- “Guangming Daily”
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