On September 10, at the press conference of the State Information Office, Cong Lin, deputy director of the General Administration of Financial Supervision, stated that, first, classification policies optimize the financial institution system. Everyone knows that our country has a complete range of financial institutions and a large number of them. The key is to optimize the structure and improve quality. We will thoroughly study the “what can and cannot be done” of different types of institutions, clarify operating boundaries and “red lines” of behavior, guide financial institutions to further develop their main business and misplaced development, and continuously improve the adaptability and competitiveness of the financial system. Support large state-owned financial institutions to better play their main role in serving the real economy and as ballast stones in maintaining financial stability. Promote policy financial institutions to focus on serving the national strategy, mainly doing business that commercial financial institutions cannot do or can't do well. For local small and medium-sized financial institutions, promote their volume reduction and quality improvement, and take root locally to carry out characteristic operations. For the insurance industry, guide it to make full use of the functions of economic shock absorbers and social stabilizers. Institutions such as asset management and non-banks are urged to play a unique role in improving wealth management, unblocking direct financing, and enriching diversified financial services.

On September 10, at the press conference of the State Information Office, Cong Lin, deputy director of the General Administration of Financial Supervision, stated that, first, classification policies optimize the financial institution system. Everyone knows that our country has a complete range of financial institutions and a large number of them. The key is to optimize the structure and improve quality. We will thoroughly study the “what can and cannot be done” of different types of institutions, clarify operating boundaries and “red lines” of behavior, guide financial institutions to further develop their main business and misplaced development, and continuously improve the adaptability and competitiveness of the financial system. Support large state-owned financial institutions to better play their main role in serving the real economy and as ballast stones in maintaining financial stability. Promote policy financial institutions to focus on serving the national strategy, mainly doing business that commercial financial institutions cannot do or can't do well. For local small and medium-sized financial institutions, promote their volume reduction and quality improvement, and take root locally to carry out characteristic operations. For the insurance industry, guide it to make full use of the functions of economic shock absorbers and social stabilizers. Institutions such as asset management and non-banks are urged to play a unique role in improving wealth management, unblocking direct financing, and enriching diversified financial services.