Diablo 3 Power Leveling United States economyNo - FLW

Assistant to the Chairman of the CBRC Yan Qingmin 2011 annual meeting of the first financial · Summit said, after taking into account the decline in real estate prices in China's bad-debt problems. According to the major banking institutions we are 1%, this is a standard for international banks, which is already relatively high. Therefore, the IMF on an assessment of China's financial system as a whole, only the basic do not meet the。 Prior to this, the International Monetary Fund (IMF) and the World Bank unveiled the country's financial system stability assessment report and the evaluation report, China's financial sector. Report noted that China's overall financial system strong, but vulnerabilities increasing, faced with declining House prices, deterioration in loan quality, such as multiple risks. Business Conference organised by the business · financial peakWill be held in Beijing on November 26, 2011, the Summit's theme is "2012 global macro-financial and market prospects". From the China Securities Regulatory Commission and the leadership of China Banking Regulatory Commission and China insurance regulatory Commission and other regulators and finance managers Diablo 3 Power Leveling, leading economists, get together to discuss crisis strategy of China. Following is the Yan Qingmin at the 26thFinancial annual · Summit speech writing memoir: Yan Qingmin: very glad to accept business for everyone to do their own opinion. Premier Lee have talked about the new international financial developments. Tell me about this theme, macro-financial and market Outlook. Want to talk about three aspects. First, increase the directivity of supervision, banking institutions to support economic development entities. Three years ago, international paymentsFinancial crisis, we are now process, still in crisis. Because from regulation is concerned, we pursued in the past, lessons or new international regulatory practices and ideas, we now see in succession to make some adjustments, amendments. In this way, give us a great deal of inspiration. We also want to return to the previous traditions, adhere to solid supportOf economic development. Lessons of the financial crisis has taught us that if we stay away from the real economy, doing more so-called innovation, China is still far too early. This is the reason why we are in a crisis, suffered a little. Today topics of macro-financial, we first need to clear this article, to increase regulatory nature. Second, strengthen the science of despite. ITo discuss the principle of macro-prudential, in fact, we talk about a lot of macro-prudential framework, macro-prudential policies. We see that last year through the United States the Dodd-Frank (tone) also stressed the need to implement macro-prudential. Three years later, as represented by the Chinese, we further understand the profound connotation of macro-prudential. But we have not found where is the essence of macro-prudential. ThisBill time is very long, until 2019 to ensure full implementation, there are many necessary conditions. How could we have persisted in China Banking Regulatory Commission take the initiative to implement scientific supervision. United States financial crisis came up we did not focus on the overall risk, systemic risk, and monomers of banks as long as there is no risk is found on the line. This is economists dealing with financial crisis in 08Arrive at a conclusion. I think, why should we stressed the principle of combination of macro and micro. The 1th, you know 03 established China Banking Regulatory Commission, us CBA (audio) 03. Through the eight years, I recall, we speak four ideas, contains a macro-regulation. Advanced than others doesn't mean that we today, in fact, is China's national conditionsDue to. You got the independence of the regulatory 100%. Is China's national conditions, you can't have macro-prudential supervision. We understand it is mainly a policy, in the process how to put the first one, like for example expanding fiscal policy to financial policy at present. From this section Diablo 3 Power Leveling, our understanding of macro-prudential should break the original concept. I think this oneVery important. Unity does and micro-prudential? We have a lot of indicators, benchmarking, international reference, there are suit for Chinese condition. For example our long-term stresses, in addition to meeting Bank applies to China, there is a savings and loan. Neither the OCC loan than the concept. In 1995 in the people's Bank of scale control, in fact we still have an amountDegree, because we have to take the Socialist market economy, the challenge must be more than the original plan of a series of economic transformation. In this sense, refers to a number of effective combination of China's financial culture, pure credit than our own, are to be implemented. Micro-prudential supervision, in recent years combined with the local community basic control risk. First, the real estate. Does not talk about real estate is not possible,Why are now concerned about the risks of real estate? We now housing loan balances from 1 September, almost 10 trillion of real estate loans. 10 trillion trust industry as a whole loans, real estate loans of 700 billion. We adjust the State Council, up from last year's ten to nine to begin, some adjustment in property prices. Real estate loan did notFluctuations, and by September was more than 1 trillion credit. Mortgage loans have increased less, this is from a risk perspective is right, down-must not be too low. Completely depends on the rollover to consumption, will have a price bubble. This is our great concern, in the face of how anti-12 risk. Second, financing vehicles. The Government of the State Council had clearly identified in the Government's budget。 In this sense, and real estate is a crossover, real estate is part of the mix inside the platform. In the implementation of macro-prudential supervision, regulatory policies into effective fiscal policy and monetary policy transmission transmission links. Thirdly, we in the transfer structure with steady growth, the proactive fiscal policy has a lot of space. Among these three years in response to the financial crisis, The Central of the State Council's decision is correct. As China's economy is a big problem. We have to deal with our employment, stability will soon appear. This three-year, 10 trillion entry, make an effective contribution to the economic pull. Back, which three years were in the use of monetary policy. Many is also in a number of tools are a bit more. I mean, How to solve the supply side structure using fiscal policy a little bit more, I feel relatively large fiscal and monetary space. And the original estimate of annual Government work report, Premier stresses, party flags are surplus this year, deficit control at 900 billion, positive fiscal policy space is very large, address the supply problem may be with fiscal policy, macro-prudential reviews, look to enable more. At lastIs to uphold the validity of regulation. This year's Henry runs deep (English) say we are going to better regulation, not more regulation. About supervision is certainly an art, not exactly scientific. This non-old four (English) said that the regulation should always for economic services, told us economy has decided to finance, we urge the Bank should pay attention to service. 03 built in the beginning to the end of 06Reforms have been listed, large banks listed on the stock. How was our service to the public, the national service. Was supported by banking institutions, the service economy, including small and medium-sized micro-enterprises, there should be a service. So we're dealing with the international financial crisis, particularly in the 12 to face the complexity of European debt, or the Chinese macroeconomic regulation and control of difficultAnd this point develop better next year. Of course each year China's economy will not be less than 7.5%,. 9% per cent of GDP in all parts of the year. Expect perhaps nine or ten points. Economy next year as a result of the pressure actually exports shrinking domestic market, more rely on our own, manufacturing of our own, that is, economic development entitiesBank to grow with this. So back to the topic, we monitor, we are confident that this approach to the banking institution we good service, so as to support international economic development. Thank you very much. Yang Yanqing: thank you, Mr yan. Do you have a problem? Audience: I would like to ask you a question, now walled Europe crisis intensified, United States economyNo, the end of the year for China, in particular, should be affected in the first quarter of next year. In addition, a problem, RMB appreciation potential of relatively large, will accelerate is peace? Yan Qingmin: renminbi, balanced and orderly, but also bi-directional, both up and down, is also in line with regularity, curves, there are always peaks have the lowest ebb. Shortly before the President of MF to China, In MF international financial forums, he also wants China to accelerate appreciation to the United States Government's intentions. China in recent years, US State Department on appreciation of RMB exchange rate regime, the policy is correct, be gradual and orderly, bi-directional. In addition to stable growth, and guarantee the necessary livelihood, and more importantly guard against risks, probably next year to two or three quarterFace even greater challenges, are at severe risk. Steady growth, structure, or to add a control risk. Financial risks, we are worried that the price of real estate assets. Yang Yanqing: thank you. Would also like to ask a difficult question, as we all know 03 to 04 after China's banking reforms, China's Bank industry look good. From that period the Bank of China will face the world's largest challenge, The risk is very large, the China factor, national factors. F sub (English) assessment said that China's overall situation in the banking sector is sound, but when a lot of shocks in years, China's banking sector may be a problem. For example, China's economic slowdown, China's real estate bubble burst, will be a big problem. Their official was pessimistic. China Banking Regulatory Commission officialHow do attitudes? What do you personally? Yan Qingmin: f sub assessment also spoke a moment ago, I tell myself. An overall assessment, only a basic does not meet, we are better than the United States. This assessment is necessary to intensify the four non-(English), led, we do Exchange. In this round of assessment will only last year. Compared to the international global financial crisis, Our assessment was able to reflect the level of banking system as a whole. 2nd, this assessment but also for our future economic development swtor credits, would worry just said as the global economic downturn, will there be a hard landing in China. If a hard landing in China, after the decline in real estate prices, China's bad-debt problems. According to the major banking institutions we are 1%, this isAdvanced international banking standards, it is relatively high. His field visits, to banks, regulators, grass-roots organizations, risk awareness, reference to rating agencies to rate each year we concluded. Yang Yanqing: what do you think that their conclusion? Yan Qingmin: they fear economic downturn, slower hopes concern about bad loans in the future, if that's the roomReal estate price fluctuation will affect. This is the concept of evaluation. Regulation in line with China's national condition. Past speaking, unilateral standards, United States, developed countries, some standards may not be able to make for our effective monitoring. Three years after the financial crisis, monitor does not attach too much importance to their liquidity. He thinks no problem, just about a single loansExample, do not attach too much importance to. This is damage index is very large. Some of the views, because it is the assessing, does not necessarily follow that is correct, depends on future economic trends. (... Rich...)