男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

China's financial holding companies to face tougher supervision

Xinhua | Updated: 2018-11-26 14:23
Share
Share - WeChat
[Photo/VCG]

BEIJING - Senior managers of China's financial firms have called for stricter supervision of financial holding companies to grant more support to China's real economy and private businesses in particular.

Emerging as a new product of market opening, financial holding companies are usually established by nonfinancial enterprises through mergers and acquisition or equity participation, and often run at least two kinds of financial firms.

Financial firms that branch out from their main business to invest in or set up other companies engaged in other kinds of financial services represent the second kind of financial holding companies.

Compared to traditional financial institutions that engage in a certain kind of financial business, these companies are more technology-driven, and their business is much more complicated and diversified.

A typical example is Ant Financial, which originated from Alipay and aimed to use new technologies to boost inclusive and green finance.

Calling financial holding companies "department stores of finance," Li Xiaopeng, chairman of China Everbright Group, said these companies could meet all sorts of financial needs of customers through a variety of means.

For instance, they may use shareholding rights, obligatory rights, debt-to-equity swap, loans, funds, and asset management to support the development of private businesses.

"But because of their rapid development and unsound operation as well as inadequate supervision from market regulators, some of these companies have had problems and made detours," Li said.

Shen Rujun, general manager of Central Huijin Investment Ltd, which has invested in several financial holding companies, listed a number of risk events that had happened either inside or outside China.

Some financial holding companies misused financial leverages by cross-shareholding and blind business expansion, some were plagued by a cumbersome management system that lost control of their subsidiaries and suffered severe losses, while others used connected transactions to transfer benefits or risks, he noted.

Zhu Hexin, deputy governor of the People's Bank of China, said that financial risks had become much more intricate these days as they often involved different financial institutions, different sectors and different markets.

"Some financial holding companies have maintained barbaric growth to rampantly expand their business in the financial industry or even used financial institutions as their cash machines, which built up risks and aggravated risk exposure. Supervision, however, did not catch up," he said.

To cope with the situation, China's central bank has selected five financial holding companies to explore more forceful supervision in the hope of mapping out a new supervision method in the first half of next year.

The five companies are China Merchants Group, Shanghai International Group, Beijing Financial Holding Group, Ant Financial, and Suning Commerce Group.

If new regulation could make clear stipulations on the business scope, organization forms, governance structure, risk segregating of financial holding companies, malpractices would be corrected, and these companies could play a significant role in supporting the real economy, Li said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 汤阴县| 新营市| 大安市| 根河市| 玛多县| 额济纳旗| 巫山县| 林州市| 旺苍县| 晋宁县| 井研县| 灵宝市| 仪征市| 乌鲁木齐市| 屯门区| 沙坪坝区| 西华县| 西乡县| 如东县| 凉山| 定日县| 佳木斯市| 封丘县| 乐业县| 富民县| 开鲁县| 漳州市| 阿勒泰市| 桂林市| 澄迈县| 尼勒克县| 三原县| 韶山市| 仁寿县| 合作市| 乳山市| 万盛区| 贵阳市| 子洲县| 紫阳县| 浠水县|