The Success Or Failure Of The Supply Side Reform Determines The Prospects For China'S Economic Development.

Guo Shuqing, chairman of the new CBRC, attended the press conference and answered questions from reporters. The theme was "introducing the banking sector's support for the structural reform of the supply side".

Comparing the theme of the news conference of the SFC, we can see the difference between them more intuitively: the theme of the news conference of the SFC is "coordinating and promoting the reform and stable development of the capital market", with the emphasis on the contents of financial supervision reform.

From the conference site, the reporter's questions are mainly focused on regulatory reform and so on. Regulatory reform is indeed one of the most important aspects of China's reform in 2017. But from Chairman Guo Shuqing's briefing, regulatory reform is not the first mission of President Guo Shuqing.

The chairman pointed out the key points in four aspects: the first one is to support and participate in the structural reform of supply side more actively and more actively. This is also the theme of this press conference. The second item is similar to the first one, which is to further improve the quality and level of the service entity economy.

This is in line with the tone of the recent meeting of the central financial and economic leadership group. The structural reform of supply side is still placed in the top priority.

The regulatory reform was put in third points and fourth points by chairman Guo. In conjunction with the content of the press conference, although chairman Guo held a positive attitude towards building the supervision and coordination mechanism, the attitude towards the banking supervision mode was not clear.

The service of the overall situation is more important to "advance steadily".

Reform is also necessary to push ahead. This is a part of "stability". But judging from the achievements of chairman Guo in the SFC and Shandong, the part of service supply side reform and "entering" is a field that he is better at and valued.

In the SFC, chairman Guo focused on strengthening the innovation of the SFC and raising the financial industry's support for the strategy of innovation and entrepreneurship. In Shandong Province, chairman Guo emphasized the role of Finance in promoting the economy.

The CBRC will continue to strengthen its services to the real economy, which may still be the focus of its work.

The structural reform of supply side is not only a national strategy, but also of great significance for solving the real dilemma of banking industry.

Since 2012, the bad debt rate of banks has been rising. It has become one of the biggest difficulties for banks to operate, and it is also an important reason for the underestimation of bank shares.

From the bank level, the supply side reform will help improve the profitability of the real economy, will greatly ease the current bank's bad debt rate continues to rise predicament, the success or failure of the supply side reform determines the prospects for China's economic development, but also determines whether the banking industry can turn the bad debt rate into a new turning point.

President Guo Shuqing's top priority is the banking sector serving the real economy, especially the structural reform of the supply side. This is not only a national strategy, but also a need for the development of the banking industry. It is also consistent with Mr. Guo's curriculum vitae.

For financial regulation reform, macro prudential supervision and micro behavior supervision are the two major trends.

Yu Yongding, a member of the Chinese Academy of Social Sciences, said on the sidelines of the CPPCC National Conference that China's interest rate increase must be very prudent. China's economy has some good signs of recovery in recent years, but it is not sure how its sustainability will be.

The renminbi has risen recently, but this year there is still pressure for depreciation.

The Central Bank of China faces greater challenges. Policies need to be taken into account to avoid further devaluation of the renminbi, control of financial risks and steady growth targets.

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