Bank of China’s Focus on Risk Prevention and Financing Support
In an exclusive interview, Bank of China’s chairman, Ge Haijiao, shared the bank’s strategic focus on risk prevention and financing support. With a strong emphasis on key areas such as local government debt and the real estate sector, Bank of China aims to address existing risks and prevent new ones. This article explores the bank’s commitment to improving debt resolution tools, supporting local governments, and providing financial assistance to the real economy, science-based enterprises, and small businesses.
Bank of China’s Risk Prevention Measures
Bank of China recognizes the importance of risk prevention in key areas such as local government debt and the real estate sector. To address these risks, the bank is focused on improving and diversifying its debt resolution tools. By doing so, they aim to effectively manage local government debt risks and support local governments in resolving existing risks while preventing new ones from emerging.
Moreover, Bank of China is committed to supporting the local real economy, science-based and innovation-oriented enterprises, as well as small and micro enterprises. By providing financial assistance to these sectors, the bank aims to enhance local governments’ ability to raise funds independently and promote sustainable economic growth.
Financing Support for Local Governments
Bank of China understands the challenges faced by local governments in managing their finances. As part of their financing support initiatives, the bank is working closely with local governments to address existing risks and prevent new ones. By providing financial assistance and guidance, Bank of China aims to improve the financial stability of local governments and help them overcome their funding challenges.
In addition, the bank is actively involved in supporting the development of the local real estate sector. Through strict implementation of relevant policies and adherence to marketization and the rule of law principles, Bank of China ensures smooth and orderly financing for real estate enterprises. The bank also provides financial support for rental housing, village renewal, and the construction of affordable homes, contributing to the overall growth and stability of the real estate market.
Bank of China’s Focus on Key Sectors
Bank of China is dedicated to supporting the growth of key sectors identified by the Central Financial Work Conference. These sectors include technology finance, green finance, inclusive finance, pension finance, and digital finance. The bank aims to fully support major technological research and the growth of strategic emerging industries, such as clean energy. By addressing the financing needs of these sectors, Bank of China contributes to the overall development and sustainability of the economy.
Bank of China also places a strong emphasis on improving basic financial services, financing for business entities, rural revitalization, financial consumer protection, risk prevention and control, and support mechanisms for inclusive finance. By strengthening the connection between financial services and digital production and lifestyles, the bank aims to provide comprehensive and accessible financial solutions to meet the diverse needs of individuals and businesses.
Furthermore, Bank of China recognizes the importance of pension financial services. The bank is committed to providing a comprehensive supply of pension financial services to meet the evolving needs of an aging population. By offering a range of pension products and solutions, Bank of China aims to support individuals in planning for a secure and comfortable retirement.