Transformation and Development of Financial Institutions under Stringent Regulations
作者机构：of the Internal Audit BureauHead Office of the Industrial and Commercial Bank of China(ICBC) the Internal Audit BureauHead Office of the ICBC of China Institute for Reform and Development
出 版 物：《China Economic Transition》 (当代中国经济转型研究（英文版）)
年 卷 期：2020年第3卷第2期
页 面：119-131页
学科分类：0202[经济学-应用经济学] 02[经济学] 020205[经济学-产业经济学]
主 题：finance Institution Transformation
摘 要：After the growth phase featured by high-leverage,expansion of shadow banks,and increased potential risks,the financial industry in China now enters the phase of stringent regulation and *** December 7,2018,the China Banking and Insurance Regulation Commission(CBIRC)disclosed 10 penalties to the tune of RMB156.3 million in fines and *** the Central Economic Work Conference held at the end of 2018,a new requirement was proposed to strengthen financial regulation and to win the battle on preventing and defusing *** the beginning of 2019,President Xi Jinping also made a key deployment on deepening financial reform on the supply side,calling for the optimization of financial services,and preventing financial ***,the phase of financial expansion characterized by financial liberalization,shadow banking,and the rapid growth of Internet finance is coming to a turning *** the phase of stringent regulation,the financial sector should respond actively,make early preparations and clarify the boundary for profit growth and compliance development,break away from the current situation that lacking both high-quality assets and stable low-cost liabilities,and balance business innovation and prudential risk control to ensure the momentum of sustainable and sound growth.
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