PRC Financial Regulation: Annual Report (2024) - Banking

2023 REGULATORY MAINLINE REVIEW

1. Strengthening support for national economy and unifying behavioral and functional regulations

The Central Financial Work Conference held at the end of October noted that finance is "the bloodline of the national economy" and proposed for the first time the goal of "accelerating the construction of the country to a financial powerhouse". In order to realize this goal, regulators in the banking sector have continued strengthening the support for the national economy, especially from the perspective of real economy and financial inclusion². A number of policies were introduced to facilitate the financial inclusion for micro and small-sized enterprises, including the Notice on Increasing Efforts to Improve the Quality of Financial Services for Micro and Small-sized Enterprises issued by the General Office of the CBIRC in April, the Opinions on Promoting the High-Quality Development of Inclusive Finance issued by the State