CPPCC conducts survey on defusing economic and financial risks

Updated: 2023-05-27 en.cppcc.gov.cn

Xian Hui, vice-chairperson of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), led a special survey team to North China's Hebei province from May 24 to 25, focusing on coordinating development with security, and fending off major economic and financial risks.

The research team went to Baoding and Shijiazhuang cities, and conducted field visits to industrial parks, large enterprises, science and innovation centers, financial institutions, financial service platforms, and real estate project sites to learn about financial services to the real economy, the investment and risk control of financing platforms, the reform and risk prevention of small- and medium-sized banks, local government debt management, and property developers’ efforts in guaranteeing the delivery of buildings. The research team also listened carefully to opinions and suggestions from locals.

The research team said that economic and financial security is of strategic and fundamental importance to the overall development of the country. It is vital to fully understand the significance of preventing and defusing major economic and financial risks, accurately grasp the current strategic opportunities, fend off risks and meet challenges so as to promote high-level security and high-quality development.

The research team stressed the importance of coordinating overall development with security, strengthening bottom-line thinking, enhancing awareness of risks, and improving risk prevention and control capacity.

It also noted that efforts should be made to focus on key areas such as real estate, finance and local government debts, as well as to establish and improve responsibility mechanisms for assessing, jointly tackling, and defusing risks, and to resolutely hold the bottom line that no systemic risks should occur.

It was highlighted that support and guidance should be given to CPPCC members in conducting in-depth investigations and studies, and identifying hidden risks so that they can make targeted suggestions and proposals for high-quality economic and social development and overall social stability.

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