工行副行长张红力：通过立法促进和保障金融稳定

Icbc's vice President Mr. Zhang: through the legislation to promote and safeguard financial stability

As a country with a developing fastest in the world financial system, China's ability to successfully deal with the impact of the global financial crisis, next time again? Ability to continue to support the real economy rapid and healthy development? The CPPCC national committee, suggested that Mr Zhang 6, a deputy governor of China's industrial and commercial bank of national legislation departments shall establish financial stability, passed a law to ensure that the top of the design and promote financial stability, enhance risk resistance ability of the financial system in China, enhance international competitiveness.

Financial security is the core of the national economic security. However, rapidly changing domestic and international financial situation, make our country a lot of challenges and potential risks to financial stability. According to Mr Zhang introduces, at present our country financial system still is given priority to with indirect financing, the proportion of direct financing is increasing, but large amounts of debt holders are commercial Banks, risk from the banking system is not fully transfer and release. Once encountering economic downward legs, bank asset quality will be tested. Sluggish recovery in the global economy, our country is in a transition under the background of again, to guard against systemic risks, maintaining financial stability of the task is very heavy.

On the other hand, the global economic and financial adjustment policy and order will also affect our country's financial stability. Several quantitative easing policy introduced in the United States, the European debt crisis and Japan's currency wars, all of China's foreign exchange reserves form a negative impact on security and financial stability.

"At present our country has preliminarily established relatively complete financial legal system, but the financial sector, financial market fast changing, changing the current legal system has appeared some failed to cover the blind spots and urgently needs the legal protection of legislation." Mr Zhang said, "after the international financial crisis, the financial market more developed countries have introduced a special method of financial stability. And only the people's bank of China in our country's current legislation system, in principle, regulation of the people's bank of China have a responsibility of maintaining financial stability.

Mr Zhang said: "with deepening of financial industry mixed operation, and further transformation of the mode of financial development and deepening of financial reform, encourage financial innovation, improve financial services, strengthen financial regulation needs to be a top-level design, to solve many institutional and institutional, structural and other deep contradiction. Therefore, the present financial stability method is very necessary and urgent.