The Chinese government plans to build a 'financial powerhouse'

As the lifeblood of the national economy and an important component of the country's core competitiveness, the term "finance" has been mentioned 17 times in the "15th Five Year Plan" proposal, affirming the important role of the financial industry in national development. The first inclusion of "financial powerhouse" reflects the profound transition of China's financial industry development goals from big to strong.

Looking back, in 1978, the total assets of China's banking industry were only a few hundred billion yuan. Nowadays, the total assets of China's banking industry are nearly 470 trillion yuan, ranking first in the world; The size of the stock and bond markets ranks second in the world; The scale of foreign exchange reserves has ranked first in the world for 20 consecutive years.

Tian Lihui, an expert of the Jingding Think Tank of the Central and Guangzhou Finance and Economics, and the dean of the Financial Development Research Institute of Nankai University, said that the competitiveness of modern finance is fundamentally reflected in the progressiveness of the system and rules, the efficiency of resource allocation, and the ability to price risks. This is the core issue that we must tackle "from big to strong".

The proposal of "Financial Power" is a positive response to this question - it marks the core goal of China's financial development, shifting from a "plateau" of scale to a "peak" of competitiveness. In the opinion of the interviewed experts, the core path of this transformation is precisely "towards reality" and "towards novelty".

The Chinese economy started with the real economy and also relies on the real economy to move towards the future. Tian Lihui stated that only by allowing financial resources to flow more accurately to key areas and weak links in the real economy, guiding finance to focus on manufacturing, especially high-end manufacturing, the stability and upgrading of industrial and supply chains, small and micro enterprises, and rural revitalization, can financial "living water" nourish the fertile ground of the real economy and add momentum and vitality to achieve high-quality economic development.