Yi Gang: In-depth development of Internet financial risk special rectification, network borrowing, virtual currency trading and other stock risks have fallen sharply

According to China Securities Journal, Yi Gang, president of the People's Bank of China and director of the Office of the Financial Stability Development Committee of the State Council, wrote in the article "China Finance" that since the 18th National Congress of the Communist Party of China, as the Chinese economy entered a new normal, some long-term accumulation The risks are gradually “falling out”. Since 2018, the financial system has resolutely implemented the central government's decision-making arrangements to prevent and resolve major financial risks. First, adhere to structural de-leverage, the macro-leverage rate is rising too fast, the new momentum is introduced and the appropriate transition period is given, and the shadow banking risk is initially managed. The second is to professionally, efficiently and steadily handle the risks of key institutions. According to the law, we will take over the management of Baoshang Bank and resolutely break the rigid redemption and serious market discipline. The third is to effectively deal with external shock risks and maintain a stable operation of the financial market. The fourth is to carry out in-depth rectification of Internet financial risks, and the stock risks such as online lending and virtual currency transactions have fallen sharply. The fifth is to timely fill in short-term regulatory systems in systemically important financial institutions, financial holding companies, financial infrastructure, Internet finance, and shadow banking.