PBOC, NFRA, CSRC, SAFE and Tianjin Municipal People’s Government Issue the Opinions on Financial Support for Tianjin’s High-Quality Development
To fully implement General Secretary Xi Jinping‘s important speeches and instructions on the coordinated development of Beijing, Tianjin, and Hebei, and to enhance the role of finance in supporting Tianjin’s high-quality development, the People's Bank of China (PBOC), the National Financial Regulatory Administration (NFRA), the China Securities Regulatory Commission (CSRC), the State Administration of Foreign Exchange (SAFE), and the Tianjin Municipal People's Government recently issued the Opinions on Financial Support for Tianjin's High-Quality Development (hereinafter referred to as the Opinions).
The Opinions aims to enhance development quality of Tianjin's financial sector, create a favorable environment for financial development, and strengthen its capacity for serving the real economy. It proposes 34 key tasks and safeguard measures across seven areas, including enhancing financial support for technological innovation and fintech empowerment, promoting the integration of finance and digital technology, improving the green finance system, accelerating the development of inclusive finance and old-age finance, optimizing the pilot free trade zone and cross-border financial services, fostering the high-quality development of characteristic finance based on local advantages, and strengthening financial regulation to forestall and defuse financial risks. These tasks and measures are crucial to achieving progress in technology finance, green finance, inclusive finance, old-age finance and digital finance and to advancing Tianjin's high-quality financial development.
Moving forward, the PBOC will resolutely implement the guidelines of the third plenary session of the 20th Central Committee of the Communist Party of China, and work with relevant authorities to implement the measures outlined in the Opinions, thereby providing robust support for the coordinated development of the Beijing-Tianjin-Hebei region and expediting the development of Tianjin as a modern socialist metropolis.
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