Deepening Financial System Reform to Support Chinese Modernization with High Quality Financial Development

Abstract

The financial system serves as a fundamental institutional pillar for China’s economic and social development. Financial system reform constitutes a critical component of China’s comprehensive deepening reforms, a key link in advancing Chinese modernization, and an essential requirement for modernizing China’s governance system and capabilities. Deepening the financial system reform is urgently needed to accelerate the building of a financial powerhouse, modernize financial governance systems and capabilities, uphold the approach of financial development with Chinese characteristics, serve the real economy, foster new quality productive forces at a faster pace, improve the macroeconomic governance system, balance development and security, and gain strategic initiative in major-power competition. To deepen financial system reform, Chinese people must be guided by the new development philosophy and thoroughly recognize the political and people-centered nature of financial work. To build a financial powerhouse and the mission of promoting high-quality financial development, China should persistently enhance the systematic, holistic, and coordinated nature of financial reforms, accelerate the establishment of a modern financial system with Chinese characteristics, and continuously meet the growing financial needs of economic and social development as well as Chinese people.

Keywords

financial system reform / financial powerhouse (a nation with a strong financial sector) / high-quality financial development / Chinese modernization

RIGHTS & PERMISSIONS

Higher Education Press