Adhere to Making Financial Services Serve the Real Economy as a Fundamental Principle

The real economy is the foundation of a country’s economy and the source of its wealth. In his important speech at the provincial and ministerial-level seminar on promoting high-quality development of finance, General Secretary Xi Jinping emphasized that adhering to making financial services serve the real economy as a fundamental principle provides scientific guidance for further clarifying the mission of financial development and promoting the healthy development of finance. The real economy is the foundation of finance; without the support of the real economy, finance would become water without a source and a tree without roots. The financial industry must take serving the real economy as its starting point and ultimate goal, comprehensively enhance the capacity of financial services to serve the real economy, continuously inject “living water from the source” into the real economy, and create a more favorable financial environment for the economy to achieve high-quality development.

实体经济是一国经济的立身之本、财富之源。习近平总书记在省部级主要领导干部推动金融高质量发展专题研讨班上发表重要讲话时强调，坚持把金融服务实体经济作为根本宗旨，为进一步明确金融发展使命、推动金融健康发展提供了科学指引。实体经济是金融的根基，脱离实体经济的支撑，金融就会成为无源之水、无本之木。金融业必须把为实体经济服务作为出发点和落脚点，全面提升金融服务实体经济能力，不断为实体经济注入“源头活水”，为经济实现高质量发展营造更加良好的金融环境。

I. Financial Services Serving the Real Economy Is an Important Mission of Financial Work

一、金融服务实体经济是做好金融工作的重要使命

Finance is the lifeblood of the real economy, and serving the real economy is the bounden duty and purpose of finance. Since reform and opening up, China’s financial system has deepened its understanding of the nature and laws of finance, anchoring itself to the real economy, closely aligning with the real economy, and serving the real economy, contributing powerful measures and effective strategies to economic development.

金融是实体经济的血脉，为实体经济服务是金融的天职，是金融的宗旨。改革开放以来，我国金融系统深化了对金融本质和规律的认识，锚定实体经济、紧扣实体经济、服务实体经济，为经济发展贡献了有力之举、有效之策。

Financial services serving the real economy are an inherent requirement for promoting a virtuous cycle between the economy and finance. The economy and finance coexist and thrive together; financial services serving the real economy can effectively promote a virtuous cycle between the economy and finance. Marxist political economy holds that finance is endogenous to the real economy centered on industrial capital; the two are inseparable and form a dialectical unity. General Secretary Xi Jinping further summarized the dialectical relationship between the economy and finance as: “When finance is vibrant, the economy is vibrant; when finance is stable, the economy is stable. When the economy prospers, finance prospers; when the economy is strong, finance is strong. The economy is the body, finance is the lifeblood, and the two coexist and thrive together.” In social production, a financial system that serves the real economy can leverage the lever of capital concentration, providing strong support for the development of the real economy; conversely, the real economy can in turn provide more disposable resources and economic surplus for financial development, promoting a virtuous cycle between the economy and finance. A virtuous cycle between the economy and finance is an inherent requirement of high-quality development. Promoting such a cycle must adhere to making financial services serve the real economy as a fundamental principle; this is an inevitable choice that follows the laws of economic development.

金融服务实体经济是促进经济与金融良性循环的内在要求。经济与金融共生共荣，金融服务实体经济能够有效促进经济与金融良性循环。马克思主义政治经济学认为，金融内生于以产业资本为核心的实体经济，两者密不可分，是辩证统一的整体。习近平总书记进一步将经济与金融的辩证关系概括为，“金融活，经济活；金融稳，经济稳。经济兴，金融兴；经济强，金融强。经济是肌体，金融是血脉，两者共生共荣”。在社会生产中，服务于实体经济的金融体系能够撬动资本集中的杠杆，为实体经济发展提供有力支撑；而实体经济反过来又能够为金融发展提供更多可支配的资源和经济剩余，推动经济与金融实现良性循环。经济与金融良性循环是高质量发展的应有之义，促进经济与金融良性循环必须坚持把金融服务实体经济作为根本宗旨，这是遵循经济发展规律的必然选择。

Financial services serving the real economy are an important support for building a modern industrial system. Accelerating the construction of a modern industrial system supported by the real economy concerns whether we can gain strategic initiative in future development and international competition. Financial services serving the real economy can provide strong support for building a modern industrial system. Marxist political economy holds that finance can strengthen and accelerate the concentration of dispersed monetary capital, promote the large-scale expansion of industrial capital, and also enhance financial functions through money creation, facilitating the circulation of industrial capital and the flow of capital across society. This plays an important role in building a modern industrial system. Practice has fully proven that building a modern industrial system cannot be separated from the strong support of finance. A modern industrial system is the material and technological foundation of a modern country. It is necessary to always place financial services serving the real economy first, continuously irrigating the modern industrial system with financial “living water.” This is an urgent need to strengthen the material and technological foundation of a modern country.

金融服务实体经济是建设现代化产业体系的重要支撑。加快建设以实体经济为支撑的现代化产业体系，关系我们在未来发展和国际竞争中赢得战略主动，金融服务实体经济能够为建设现代化产业体系提供有力支撑。马克思主义政治经济学认为，金融能够强化和加速集中分散的货币资本，推动产业资本实现大规模扩张，还能够通过货币创造强化金融功能，促进产业资本循环和资本在社会范围内流动，这对建设现代化产业体系具有重要作用。实践充分证明，建设现代化产业体系离不开金融的有力支撑。现代化产业体系是现代化国家的物质技术基础，必须始终把金融服务实体经济放在第一位，不断为现代化产业体系浇灌金融“活水”，这是厚植现代化国家物质技术基础的迫切需要。

Financial services serving the real economy are a fundamental measure for preventing and defusing financial risks. Preventing and defusing financial risks, especially preventing systemic financial risks, is a fundamental task of financial work. Financial services serving the real economy can effectively prevent and defuse financial risks. Driven by financialized capital in some capitalist countries, finance tends to detach from the real economy and circulate independently. This will lead to excessive expansion of the virtual economy, damage to the development of the real economy, and the continuous accumulation of financial risks, ultimately triggering financial crises. This lesson is worth learning deeply. In a socialist market economy, only by adhering to financial services serving the real economy can financial risks be fundamentally prevented and defused. Preventing and defusing financial risks is a prerequisite for ensuring stable and long-term economic development. It is necessary to make finance return to its origin, taking serving the real economy as the starting point and ultimate goal of financial development. This is a key move to better coordinate development and security.

金融服务实体经济是防范化解金融风险的根本举措。防范化解金融风险特别是防止发生系统性金融风险，是金融工作的根本性任务，金融服务实体经济能够有效防范化解金融风险。一些资本主义国家在金融化资本的驱动下，金融倾向于脱离实体经济而独立循环，这将造成虚拟经济过度扩张、实体经济发展受损、金融风险不断积累，最终引发金融危机，这个教训值得深刻吸取。在社会主义市场经济中，唯有坚持金融服务实体经济才能从根本上防范化解金融风险。防范化解金融风险是推动经济发展行稳致远的前提保障，必须使金融回归本源，把为实体经济服务作为金融发展的出发点和落脚点，这是更好统筹发展和安全的关键一招。

II. Key Areas for Concentrating Efforts to Provide High-Quality Financial Services to the Real Economy

二、聚力为实体经济提供优质金融服务的重点领域

Finance is a crucial instrument of the state, affecting the overall situation of national economic development. To adhere to and implement the fundamental principle of financial services serving the real economy, the financial industry must anchor its main direction of serving the real economy, identify key areas for financial services to serve the real economy, comprehensively improve the efficiency and level of financial services, and provide a continuous stream of high-quality financial services for the development of the real economy.

金融是国之重器，关系国民经济发展全局。坚持和落实金融服务实体经济这一根本宗旨，金融业要锚定服务实体经济的主攻方向，找准金融服务实体经济的重点领域，全面提升金融服务效率和水平，为实体经济发展提供源源不断的优质金融服务。

Focus on innovation in financial products and services, and strive to improve the efficiency of financial resource allocation. Innovation in financial products and services is key to enhancing the capacity of financial services to serve the real economy. Financial innovation that meets the needs of real economic development can effectively improve the efficiency of financial resource allocation and enhance the quality and effectiveness of serving the real economy. Since the 18th National Congress of the CPC, China’s financial system has adhered to using financial technology to support product and service innovation, continuously increasing innovation efforts in policy tools, credit products, and supporting services, promoting innovation and quality improvement in financial products and services. To comply with the requirement of providing high-quality financial services to the real economy, it is necessary to promote financial product innovation on the track of marketization and rule of law, establish and improve the direct financing system, and promote innovation in the capital market system and mechanisms. It is necessary, under the premise of controllable risks, to accelerate innovation in credit products and services, launch diversified financial products, and provide differentiated and integrated financial services. It is necessary, under conditions adapting to the rapid development of modern information technology, to adhere to empowering financial innovation with technological means, promote the deep integration of information technology and financial business, and launch new financial products and service models.

聚焦金融产品与服务创新，着力提高金融资源配置效率。金融产品与服务创新是增强金融服务实体经济能力的关键所在，适应实体经济发展需要的金融创新，能够有效提高金融资源配置效率，增强服务实体经济质效。党的十八大以来，我国金融系统坚持以金融科技助力产品与服务创新，在政策工具、信贷产品和配套服务等方面持续加大创新力度，推动金融产品与服务实现创新提质。顺应为实体经济提供优质金融服务的要求，需要在市场化法治化轨道上推进金融产品创新，建立健全直接融资体系，推动资本市场体制机制创新。需要在风险可控的前提下，加快信贷产品和服务创新，推出多元化金融产品，差异化、综合化金融服务。需要在适应现代信息技术高速发展的条件下，坚持以科技手段赋能金融创新，促进信息技术与金融业务的深度融合，推出新的金融产品和服务模式。

Focus on optimizing the structure of capital supply, and strive to improve the quality of financial service supply. Optimizing the structure of capital supply is an inherent requirement for enhancing the quality and effectiveness of financial services serving the real economy, and it is also an important focus for deepening financial supply-side structural reform. Since the 18th National Congress of the CPC, China’s financial system has focused on meeting the diverse financial needs of the people and the real economy, adjusting and optimizing the structure of capital supply, tilting capital supply toward key areas and weak links, effectively improving the efficiency of capital use, and continuously enhancing the quality of financial service supply. To comply with the requirement of providing high-quality financial services to the real economy, it is necessary to adhere to taking serving the real economy as the center, continuously strengthen financial support for scientific and technological innovation, advanced manufacturing, green development, small and micro enterprises, and other major national strategies, and do a good job in the five major articles of science and technology finance, green finance, inclusive finance, pension finance, and digital finance. It is necessary to focus on overcoming problems such as maturity mismatch, capital structure, and misallocation of resource directions, revitalize financial resources occupied inefficiently, and provide high-quality financial services for the development of the real economy.

聚焦优化资金供给结构，着力提升金融服务供给质量。优化资金供给结构是增强金融服务实体经济质效的内在要求，也是深化金融供给侧结构性改革的重要着力点。党的十八大以来，我国金融系统围绕满足人民群众和实体经济多样化的金融需求，调整和优化资金供给结构，使资金供给向重点领域和薄弱环节倾斜，促进资金使用效率有效提高，持续提升金融服务供给质量。顺应为实体经济提供优质金融服务的要求，需要坚持以服务实体经济为重心，不断强化对科技创新、先进制造、绿色发展和中小微企业及其他国家重大战略的金融支持，做好科技金融、绿色金融、普惠金融、养老金融、数字金融五篇文章。需要着力克服期限错配与资本结构、资源投向错位等问题，盘活被低效占用的金融资源，为实体经济发展提供高质量金融服务。

Focus on promoting the transformation and upgrading of the manufacturing industry, and strive to enhance the capacity of financial support for building a manufacturing powerhouse. The manufacturing industry is the foundation of the real economy. Supporting the transformation and upgrading of the manufacturing industry is an inherent part of financial services serving the real economy and an important measure to promote high-quality development of the manufacturing industry. Since the 18th National Congress of the CPC, China’s financial system has focused on supporting the construction of a manufacturing powerhouse, continuously strengthening financial support for the manufacturing industry, broadening financing channels for manufacturing enterprises, and providing effective support for the manufacturing industry to transform from large to strong. To comply with the requirement of providing high-quality financial services to the real economy, it is necessary to adapt to the development trends of digitalization, intelligence, and greening in the manufacturing industry, support the transformation and upgrading of the manufacturing industry, and continuously enhance the quality and effectiveness of financial support for building a manufacturing powerhouse. It is necessary to adhere to tilting capital supply toward the manufacturing industry, vigorously support the development of strategic emerging industries and advanced manufacturing clusters, and increase medium- and long-term capital support for traditional industries in areas such as equipment renewal, technological transformation, and green transformation. It is necessary to rely on core enterprises in the manufacturing industry chain, steadily promote supply chain financial services, and improve the availability of financing for upstream and downstream enterprises in the industry chain. It is necessary to prudently develop financial products that adapt to the characteristics and needs of different development stages of manufacturing enterprises, reasonably determine financing terms and loan interest rates, and reasonably cede profits to manufacturing enterprises.

聚焦推动制造业转型升级，着力增强金融支持制造强国建设能力。制造业是实体经济的基础，支持制造业转型升级是金融服务实体经济的应有之义，也是推动制造业高质量发展的重要举措。党的十八大以来，我国金融系统围绕支持制造强国建设，不断加强对制造业的金融支持，拓宽制造业企业的融资渠道，为制造业由大变强提供了有效支持。顺应为实体经济提供优质金融服务的要求，需要适应制造业数字化、智能化、绿色化发展趋势，支持制造业转型升级，不断增强金融支持制造强国建设质效。需要坚持资金供给向制造业倾斜，大力支持战略性新兴产业、先进制造业集群发展，加大传统产业在设备更新、技术改造、绿色转型等方面的中长期资金支持。需要依托制造业产业链核心企业，稳步推进供应链金融服务，提高产业链上下游企业融资可得性。需要稳妥开发适应制造业企业发展阶段特点和需求的金融产品，合理确定融资期限和贷款利率，向制造业企业合理让利。

Focus on meeting the financing needs of private enterprises, and strive to improve the availability of financial services. Financial services are a key force supporting the development and growth of private enterprises. Meeting the reasonable financing needs of private enterprises has a multiplier effect on stabilizing the overall economic situation and invigorating economic vitality. Since the 18th National Congress of the CPC, China’s financial system has focused on alleviating the financing difficulties of private enterprises, continuously increasing credit supply to private enterprises, lowering financing thresholds and costs, and providing strong support for the development of private enterprises. To comply with the requirement of providing high-quality financial services for the real economy, it is necessary to better assist the development and growth of private enterprises, meet their reasonable financing needs, and continuously improve the availability of financial services. It is necessary to continuously increase the input of credit resources, focusing on increasing the supply of first loans and credit loans to high-tech enterprises, “specialized and new” [1]1 “Specialized and new” (专精特新) refers to enterprises that are specialized, refined, distinctive, and innovative, a category promoted by the Chinese government to encourage high-quality development in niche markets. small and medium-sized enterprises, and technology-based small and medium-sized enterprises. It is necessary to promote the deep integration of financial institutions with the real economy, supporting financial institutions in providing customized financial products and services based on changes in the financing needs of private enterprises. It is necessary to establish and improve comprehensive financial service platforms, providing private enterprises with comprehensive services such as credit rating, financing consultation, risk assessment, and financing applications, continuously improving financing efficiency and reducing financing costs.

聚焦满足民营企业融资需求，着力提高金融服务可得性。金融服务是支撑民营企业发展壮大的关键力量，满足民营企业合理融资需求对于稳住经济大盘、提振经济活力具有乘数效应。党的十八大以来，我国金融系统围绕纾解民营企业融资困境，持续增强对民营企业信贷投放，降低融资门槛与成本，为民营企业发展提供了有力支撑。顺应为实体经济提供优质金融服务的要求，需要更好助力民营企业发展壮大，满足民营企业合理融资需求，持续提高金融服务可得性。需要持续加大信贷资源投入，着重对高新技术企业、“专精特新”中小企业、科技型中小企业等加大首贷、信用贷投放力度。需要推动金融机构与实体经济深度融合，支持金融机构根据民营企业融资需求变化，提供定制化金融产品与服务。需要建立健全综合金融服务平台，为民营企业提供信用评级、融资咨询、风险评估、融资申请等综合服务，不断提高融资效率、降低融资成本。

III. Provide Higher Quality and More Efficient Financial Support for the Development of the Real Economy

三、为实体经济发展提供更高质量更有效率的金融支持

When the financial chess piece is activated, the entire board comes to life. Only when finance and the real economy circulate smoothly can the real economy flourish and be full of vitality. We must strengthen the function of financial services, expand the depth and breadth of financial services for the real economy, and provide higher quality and more efficient financial support for the development of the real economy.

金融棋活，全盘皆活。金融与实体经济循环畅通，实体经济才会蓬勃发展、充满生机活力。我们要强化金融服务功能，拓展金融服务实体经济的深度和广度，为实体经济发展提供更高质量、更有效率的金融支持。

Take creating a favorable monetary and financial environment as a key measure to enhance the function of financial services, and improve the quality and efficiency of financial services for the real economy. The monetary and financial environment is the soil and air for financial services to serve the real economy. A favorable monetary and financial environment is conducive to improving the quality and efficiency of financial services for the real economy. To strengthen the function of financial services, it is necessary to actively create a favorable monetary and financial environment and promote the improvement of quality and efficiency in financial services for the real economy. It is necessary to always maintain the prudence of monetary policy, do a good job in cross-cyclical and counter-cyclical adjustments, maintain reasonable and ample liquidity, ensure that the scale of social financing and the money supply basically match the nominal economic growth rate, and provide strong support for the reasonable growth of social financing scale and monetary credit. It is necessary to flexibly use structural monetary policy tools, continuously optimize the structure of capital supply, fully leverage the guiding effectiveness of monetary and credit policies, guide more financial resources to flow to major national strategies, key areas, and weak links, and do a good job in the “five major articles” [2]2 The “five major articles” (五篇大文章) refers to five key areas for financial services: technology finance, green finance, inclusive finance, pension finance, and digital finance, as outlined in the 2023 Central Financial Work Conference. for building a financial power. At the same time, under the premise of adhering to the principles of marketization and rule of law, through various methods such as market clearing and debt restructuring, revitalize financial resources occupied inefficiently, and improve the efficiency of capital use. It is necessary to improve the central bank’s policy interest rate system, leverage the reform of the loan market quoted interest rate and the market-based adjustment mechanism for deposit interest rates, and promote a stable and declining comprehensive social financing cost.

把营造良好的货币金融环境作为增强金融服务功能的关键举措，提升金融服务实体经济质效。货币金融环境是金融服务实体经济的土壤和空气，良好的货币金融环境有利于提升金融服务实体经济质效。强化金融服务功能，要积极营造良好的货币金融环境，推动金融服务实体经济提质增效。要始终保持货币政策稳健性，做好跨周期和逆周期调节，保持流动性合理充裕，保证社会融资规模、货币供应量同名义经济增速基本匹配，为社会融资规模和货币信贷合理增长提供有力支撑。要灵活运用结构性货币政策工具，持续优化资金供给结构，充分发挥货币信贷政策引导效能，引导更多金融资源流向国家重大战略、重点领域和薄弱环节，做好金融强国建设“五篇大文章”。同时，在坚持市场化法治化原则的前提下，通过市场出清、债务重组等多种方式，盘活被低效占用的金融资源，提高资金使用效率。要健全央行政策利率体系，发挥好贷款市场报价利率改革与存款利率市场化调整机制，促进社会综合融资成本稳中有降。

Take improving the construction of financial infrastructure as a foundational project to enhance the function of financial services, and unblock the channels for funds to enter the real economy. Financial infrastructure is the roads and bridges for financial resources to flow to the real economy. The efficient operation and interconnection of financial infrastructure can provide basic and institutional guarantees for the capital market to play its hub function and improve the efficiency of financial services for the real economy. To strengthen the function of financial services, it is necessary to improve the construction of financial infrastructure, consolidate the roads and bridges for financial services to serve the real economy, and unblock the channels for funds to enter the real economy. It is necessary to strengthen the construction of financial infrastructure, comprehensively plan financial infrastructure such as comprehensive financial statistics, financial market registration and custody, clearing and settlement, and credit reporting, steadily promote the interconnection of various domestic and foreign financial infrastructures, and accelerate the formation of an autonomous, controllable, safe, and efficient financial infrastructure system. It is necessary to improve the laws and regulations for financial infrastructure, promote legislation for the standardization of financial information, comprehensively regulate market access and governance operations, and promote the improvement of the basic system of the capital market and the improvement of the market ecology. It is necessary to fully utilize new-generation information technologies such as big data and cloud computing to “arm” credit infrastructure, accelerate the digital transformation of financial institutions, promote the formation of a complete and professional credit reporting system, and reduce the costs of the real economy in areas such as credit reporting and financing.

把完善金融基础设施建设作为增强金融服务功能的基础工程，疏通资金进入实体经济的渠道。金融基础设施是金融资源流向实体经济的道路桥梁，金融基础设施的高效运转和互联互通能够为资本市场发挥枢纽功能、提升金融服务实体经济效率提供基础性制度性保障。强化金融服务功能，要完善金融基础设施建设，筑牢金融服务实体经济的道路桥梁，疏通资金进入实体经济的渠道。要强化金融基础设施建设，统筹规划金融业综合统计、金融市场登记托管、清算结算、征信等金融基础设施，稳步推动境内外各类金融基础设施互联互通，加快形成自主可控安全高效的金融基础设施体系。要健全金融基础设施法律法规，促进金融信息标准化立法，全面规范市场准入和治理运营，推动资本市场基础制度完善与市场生态改善。要充分运用大数据、云计算等新一代信息技术“武装”信用基础设施，加快金融机构数字化转型，推动形成完备、专业的征信体系，降低实体经济在征信、融资等方面的成本。

Take improving the multi-level capital market system as the core content to enhance the function of financial services, and broaden the financing channels for the real economy. Improving the multi-level capital market system is an inherent requirement for deepening financial supply-side structural reform and an inevitable choice to meet the diversified financing needs of the real economy. To strengthen the function of financial services, it is necessary to improve the multi-level capital market system, broaden the financing channels for the real economy, and better leverage the hub function of the capital market. It is necessary to scientifically grasp the positioning of different levels of the capital market, improve differentiated institutional arrangements, smooth the transfer mechanism, and promote the formation of a financial market system with staggered development, complementary functions, and organic connections. It is necessary to vigorously develop institutional investors and increase the proportion of direct financing, especially equity financing. It is necessary to enrich financial market products and levels, and continuously broaden the financing entry points for the real economy.

把健全多层次资本市场体系作为增强金融服务功能的核心内容，拓宽实体经济的融资渠道。健全多层次资本市场体系是深化金融供给侧结构性改革的内在要求，也是满足实体经济多元化融资需求的必然选择。强化金融服务功能，要健全多层次资本市场体系，拓宽实体经济的融资渠道，更好发挥资本市场枢纽功能。要科学把握不同层次资本市场的定位，完善差异化的制度安排，畅通转板机制，推动形成错位发展、功能互补、有机联系的金融市场体系。要大力发展机构投资者，提高直接融资特别是股权融资比重。要丰富金融市场产品和层次，持续拓宽实体经济融资入口。

Take promoting high-level opening up of finance as an important path to enhance the function of financial services, and expand the space for financial services to serve the real economy. Financial opening up is an important component of opening up to the outside world. Promoting high-level opening up of finance is conducive to strengthening the financing function and operational efficiency of the financial market, and enhancing the ability of financial services to serve the real economy. On the new journey of the New Era, to strengthen the function of financial services, it is necessary to focus on promoting high-level opening up of finance to better meet the development needs of the real economy. It is necessary to adhere to both “bringing in” and “going global,” focus on institutional opening up to promote high-level opening up of finance, enhance the facilitation of cross-border investment and financing, and attract more foreign financial institutions and long-term capital to operate and invest in China. It is necessary to implement the pre-establishment national treatment plus negative list management system, align with the relevant rules in the financial field of international high-standard economic and trade agreements, streamline restrictive measures, and enhance the transparency, stability, and predictability of financial systems and policies. It is necessary to guard the bottom line of financial security under open conditions, prudently and steadily grasp the pace and intensity of high-level opening up of finance, appropriately relax market access requirements for foreign-funded institutions under the premise of controllable risks, lower the threshold for access to related businesses in the financial market, and expand the depth and breadth of financial opening up. It is necessary to strengthen the interconnection of domestic and foreign financial markets, broaden the channels for interconnection of capital markets, enhance the facilitation level of cross-border investment and financing, and actively participate in international financial regulatory reform.

把推进金融高水平开放作为增强金融服务功能的重要路径，拓展金融服务实体经济作为空间。金融开放是对外开放的重要组成部分，推进金融高水平开放有利于强化金融市场的融资功能与运行效率，增强金融服务实体经济能力。新时代新征程，强化金融服务功能，必须着力推进金融高水平开放，更好满足实体经济发展需求。要坚持“引进来”和“走出去”并重，以制度型开放为重点推进金融高水平对外开放，提升跨境投融资便利化，吸引更多外资金融机构和长期资本来华展业兴业。要落实准入前国民待遇加负面清单管理制度，对标国际高标准经贸协议中金融领域相关规则，精简限制性措施，增强金融制度和政策的透明度、稳定性和可预期性。要守住开放条件下的金融安全底线，稳慎把握好金融高水平开放的节奏和力度，在风险可控前提下适当放宽外资机构市场准入要求，降低金融市场相关业务准入门槛，拓展金融对外开放的深度和广度。要加强境内外金融市场互联互通，拓宽资本市场互联互通渠道，提升跨境投融资便利化水平，积极参与国际金融监管改革。

Take improving the effectiveness of financial regulation as an important lever to enhance the function of financial services, and effectively prevent and resolve financial risks. Preventing and resolving financial risks is the eternal theme of financial work and is even more the basic prerequisite for the healthy development of the real economy. To strengthen the function of financial services, it is necessary to improve the effectiveness of financial regulation, tighten the regulatory “fence,” and firmly guard the bottom line of preventing systemic financial risks. It is necessary to strengthen the centralized and unified leadership of the Party Central Committee over financial work, improve the system and mechanism for the Party to lead financial work, and establish and improve a coordination mechanism for financial stability and development. It is necessary to clarify the responsibilities of financial regulatory departments and industry competent authorities at all levels, implement the responsibilities for local risk disposal and maintaining stability, strengthen collaboration and cooperation between departments, and improve a risk disposal responsibility mechanism with consistent rights and responsibilities. It is necessary to expand the scope and intensity of regulation, bring all financial activities into regulation according to law, eliminate regulatory gaps and blind spots, and strictly enforce the law in all aspects such as market access, prudential regulation, and conduct regulation, achieving horizontal-to-edge and vertical-to-bottom financial regulation. It is necessary to enhance the adaptability and targeting of regulation, promptly dispose of risks in small and medium-sized financial institutions, establish a long-term mechanism for preventing and resolving local debt risks, and improve the regulatory system for the main entities and funds of real estate enterprises. It is necessary to accelerate the digital and intelligent transformation of financial regulation, promote the construction of a big data platform for financial regulation, and enhance the forward-looking, comprehensive, and penetrating nature of risk monitoring.

把提升金融监管有效性作为增强金融服务功能的重要抓手，有效防范化解金融风险。防范化解金融风险是金融工作的永恒主题，更是实体经济健康发展的基础前提。强化金融服务功能，必须提升金融监管有效性，扎牢监管“篱笆”，牢牢守住不发生系统性金融风险的底线。要强化党中央对金融工作的集中统一领导，完善党领导金融工作的体制机制，建立健全金融稳定和发展统筹协调机制。要明确各级金融监管部门和行业主管部门的责任，落实好属地风险处置和维稳责任，强化部门间的协作配合，健全权责一致的风险处置责任机制。要扩大监管范围与力度，依法将所有金融活动纳入监管，消除监管空白与盲区，并在市场准入、审慎监管、行为监管等各个环节严格执法，实现金融监管横向到边、纵向到底。要提升监管适应性和针对性，及时处置中小金融机构风险，建立防范化解地方债务风险长效机制，健全房地产企业主体监管制度和资金监管。要加快金融监管数字化智能化转型，推进金融监管大数据平台建设，增强风险监测前瞻性、全面性和穿透性。

Online Editor: Zhang Fujun

网络编辑：张福军