BEIJING: The leadership of the Communist Party of China (CPC) has stressed the need to mitigate financial risks to achieve high-quality development with regard to the country's national security and the overall safety of the people. Xinhua reported on Monday.
During the meeting of the Political Bureau of the CPC Central Committee, chaired by the General Secretary of the Chinese President, Xi Jinping, the forum reflected on the judicial provisions regarding liability for failure to prevent or defuse financial risks.
This development comes as President Xi, addressing the opening of a study session at the Party School of the CPC Central Committee (National Academy of Governance) in January, had stressed the need to defuse systematic financial risks.
The testing provisions reflected Beijing's decision to strengthen financial supervision to prevent and alleviate financial risks and encourage development in the financial field.
The meeting also called for the strict implementation of the testing provisions, also aimed at promoting CCP self-governance in the financial field and strengthening centralized and unified leadership in financial work, as well as ensuring that relevant authorities, financial institutions, industrial authorities and the local Party. Committees and governments zealously fulfill their duties: to convey a strong message that violators will be duly held accountable.
Furthermore, the meeting highlighted the need to make efforts to achieve significant progress in accelerating the development of the central region of the country, which in fact represents a tenth of the country's land and a quarter of the total population, which includes Shanxi, Anhui, Jiangxi, Henan, Hubei. and the provinces of Hunan.
The region, the group noted, is important in terms of grain production, modern equipment manufacturing, high-tech industry, energy and raw materials, as well as a comprehensive transportation hub.
The participants called for adhering to innovation-driven development and improving original scientific and technological research to achieve breakthroughs, and also called for efforts to develop new quality productive forces in accordance with local conditions, accelerated construction of a modernized industrial system and expansion of the development of the real economy sector with greater competitiveness.
The move, the meeting noted, is also aimed at coordinating efforts to encourage the upgrading of traditional industries while catering to emerging and future industries.
Underlining measures for the development of modernized transportation infrastructure system along with efficient, free and smooth flow of production factors, the meeting called for boosting ecological conservation, environmental protection, green and low-carbon development, along with continuous efforts to achieve integrated development of urban and rural areas and promote rural revitalization.
Furthermore, the forum also highlighted the improvement of the country's capacity to ensure the supply of various resources such as grains, energy and others.
