On the afternoon of February 4, 2017, Pan Gongsheng, Member of the PBOC’s CPC Committee, Deputy Governor of PBOC, visited National Association of Financial Market Institutional Investors (NAFMII) to greet NAFMII staff on behalf of PBOC’s Governor Zhou Xiaochuan and the CPC Committee of PBOC. He had a talk with NAFMII’s mid-level and high-level staff. Mr. Pan was accompanied by Ji Zhihong, Director of PBOC’s Financial Markets Division.

Deputy Governor Pan Gongsheng visits NAFMII

On behalf of the CPC Committee of PBOC, Mr. Pan fully affirmed NAFMII’s work in serving the market and supporting the development of real economy in 2016. He pointed out that NAFMII played a supporting role in developing real economy through adhering to the working idea of equal emphasis on development and risk prevention, continuously promoting the innovation of debt financing instruments, establishing and improving the risk prevention and disposal mechanism, and facilitating the standardized and healthy development of interbank market.

Mr. Pan stressed that the year 2017 marks the 20th anniversary of the interbank market. NAFMII should make persistent efforts to focus on the five important tasks put forward by the central government, namely addressing overcapacity, reducing inventory, deleveraging, lowering costs, and bolstering areas of weakness, and to resolutely implement the deployment requirements of Central Economic Work Conference to “place financial risk prevention and control at a more important position”. First, support development of real economy with great efforts, actively implement national macro-control policies, strongly support precision poverty alleviation, “Belt & Road” initiative and other major development strategies, continue to promote the innovation of a series of product systems, and meet the needs of real economic development. Second, continue to strengthen risk prevention, comprehensively grasp the overall work tone of steady progress of the Central Economic Work Conference, carry out follow-up management and trading risk prevention, and maintain healthy and stable operation of the market. Third, continue to strengthen macro prudential management of the market, implement monitoring and research of market operation, provide relevant decision-making support, cooperate with the improvement of bond market leverage regulation, and continue to improve the level of macro prudential management. Fourth, actively implement the inter-ministerial coordination mechanism in managing corporate bond market, and conscientiously perform market self-discipline management responsibilities. Fifth, continue to deepen the opening-up of interbank market, improve foreign investment mechanism and the construction of soft environment, so as to improve the facilitation of investment from foreign investors. Sixth, constantly improve the market self-discipline management and enhance the level of standardization in the interbank market.

Deputy Governor Pan Gongsheng in discussion with middle-level and high-level staff of NAFMII

Xie Duo, Executive Vice President and Secretary-General of NAFMII, extended heartfelt thanks to PBOC’s CPC Committee and Deputy Governor Pan for their trust, care and support for the work of NAFMII. Mr. Xie said that in 2017, NAFMII will continue to follow the guidance of PBOC and Ministry of Civil Affairs to unite the broad market members, adhere to the idea of putting equal emphasis on risk prevention and development, promote the establishment of interbank market macro prudential management framework, firmly protect the market from systematic risks, and make a positive contribution to the standardized, efficient and stable development of interbank market.