The Conditions For Promoting The Marketization Of RMB Interest Rate Are Basically Possessed.

Zhou Xiaochuan, governor of the people's Bank of China, expounded the direction of further deepening the reform of commercial banks.

He pointed out that at present, the conditions for promoting the marketization of RMB interest rates are basically available. Next, the people's Bank of China will continue to push forward in accordance with the spirit of the central conference.

At the same time, he pointed out that we should speed up the establishment.

Zhou Xiaochuan also said that the reform of commercial banks has already solved the problem of capital adequacy and quality. Capital quality is a general indicator of health. In the future, we should continue to emphasize the quality of financial products and financial services, which ultimately depend on the customer's assessment.

On the other hand, we should open the domestic financial market at a wider and higher level under the premise of controllable risks, improve the RMB exchange rate formation mechanism, enhance the two-way floating elasticity of RMB exchange rate, promote the convertibility of capital account in a safe and orderly manner, facilitate trade facilitation, gradually expand the capital outflow channels, and relax restrictions on overseas investment of domestic residents.

These will undoubtedly increase the external pressure of China's commercial banks to enhance their international competitiveness.

In addition, in improving the corporate governance structure and financial organization system of commercial banks, Zhou Xiaochuan mentioned that we should improve the capital constraint mechanism, promote diversification of stock rights, effectively break monopoly, relax access, encourage, guide and regulate private capital entering the financial field.

In particular, we should further deepen rural financial reform, especially the reform of rural credit cooperatives, relax market access, and cultivate and develop new models.