CCTV.com - CNTV English - CCTV News

Lujiazui Forum 2010 focuses on financial transformation

06-28-2010 11:34 BJT

Watch Video

Play Video

China's financial regulators and power brokers gathered in Shanghai over the weekend, to kick off this year's Lujiazui Forum 2010. Attendees focused on financial transformation in the post-crisis era.

Liu Mingkang, chairman of China Banking Regulatory Commission, says the average capital adequacy ratio of the country's commercial banks was 11.1 percent in the first quarter of the year. This more than met the target. Liu is reminding banks take a calm approach to the current financial situation.

Liu Mingkang, chairman of China Banking Regulatory Commission
Liu Mingkang, chairman of China Banking Regulatory Commission

Liu Mingkang, Chairman of China Banking Regulatory Commission said "Traditional commercial banks must maintain their firewall with the capital market. That separation should also been maintained between banks' parent companies and subsidies, between counter and behind the scenes."

The commission says enterprises should upgrade their financial structure, and expand direct financing. It also warns against increasing low-down trades.

Shang Fulin, Chairman of China Securities Regulatory Commission sid "There are low-down trades in enterprises' M&A, and they have become the major problems in our market supervision."

The Commission says it will make efforts to establish a multi-layer insurance market, improve supervision, and strengthen risk control measures.

Wu Dingfu, Chairman of China Insurance Regulatory Commission said "We should try hard to avoid systematic risks. That's the basis of the industry's future development."

At the forum, the central bank called for lessons to be learnt from the global financial crisis. It says macro economic policies should focus on stability and sustainability.

Related stories

Editor:Xiong Qu |Source: CCTV.com

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program