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On Putting Institutions and Mechanisms in Place for the Financial Sector to Effectively Support the Real Economy
Wang Aiping, Hu Haifeng
Teaching and Research
2023, 57 (3):
56-71.
Ensuring the essence and purpose of finance is to serve the real economy through building a financial system to effectively support the real economy is a major decisionmaking arrangement for the financial work during the 14th FiveYear Plan period made by the Central Committee of the Communist Party of China with Comrade Xi Jinping as its core, and is also an urgent task for China's financial reform and development. Putting institutions and mechanisms in place for the financial sector to effectively support the real economy is conducive to promoting highquality economic development, implementing the new development concept, accelerating the development of a modern industrial system, and accelerating the formation of a new development pattern with the domestic cycle as the main body and the domestic and international dual cycles mutually promoting each other, and coordinating the overall development and security. To ensure that institutions and mechanisms will be put in place for the financial sector to effectively support the real economy, measures should be taken such as deepening the reform of the financial system from supply side, improving effectiveness of the monetary policy and making it access to the real economy directly, promoting the reform and innovation of the banking system and mechanism, stimulating the endogenous power of the banking sector to serve the real economy, increase the proportion of direct financing, enhancing the financing function of the multilevel capital market, accelerating the development of supply chain finance and green finance, and enhancing financial inclusion.
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