Sunday, March 17, 2013

Online news (reporter wang Lin) on March 16

Xiao from jiangxi province, where is ouyang xiu and wen tianxiang's hometown, style best; Mr. Xiao was born in changsha, hunan, and finished his studies in the city, "hunan mules" intrepid courage in him also. Set the literati's exquisite and reformers momentum at a suit, Mr. Xiao resume perfect career. Was only 36 years old officer to bureaus, four years later, deputy department through ZhiTianMingZhiNian, xiao into ministry cadre ranks, he is the new stage of the China securities regulatory commission - is considered a "crater" place.

On the national annual ended, Mr. Xiao, the wind of a gentleman to journalists left a deep impression. As the chairman of the board of the bank of China, Mr. Xiao to attend all the plenary session, in the face of reporters present "pike short gun", almost is a craigslist. His concerns can be classified as two types: one is how to effectively guard against financial risks. Second, how to better promote the financial innovation. Risk prevention and encouraging innovation is a pair of contradictions, the contradiction behaves particularly outstandingly in the stock market. Premier li keqiang said at a regular press briefing yesterday, to develop multi-level capital market, improve the proportion of direct financing, and to protect investors, especially minority investors' legal rights and interests. To carry out the prime minister, the main points of the deployment is to deal with the relationship between the risk and innovation, for Mr. Xiao, risk consciousness and innovation spirit, adapt to the new work should not need too long time.

Twenty years experience

Xiao in 1976 to participate in the work, into the work of the people's bank of China in 1981, only eight years time, by ordinary clerk to the youngest have created in the system cadre, 40 years old, Mr. Xiao became deputy governor of the bank. XiaoGangYou in work experience so far, two-thirds of the time for 22 years were spent in the central bank in the system, as during, director, deputy director of the policy research office of the China foreign exchange trade center general manager, central bank plan, director-general of the department of money, monetary policy department, guangdong branch President and head of the administration of foreign exchange bureau chief of guangdong.

For financial professional trained senior officials, the central bank system is the best stage to take advantage. In early rectification mukesh ambani chaos, Mr. Xiao show a tough image of regulators. As a vice President in charge of the financial supervision and regulation, xiao long consolidation in the trust company, cancellation, play important roles in the process of merger and reorganization. Trust can be regarded as the ancestor of China's financial industry innovation, in the field of financial business, almost no trust company was not involved in. Due to the lack of perfect supervision and management framework, the trust company savage growth, risk events occur. For maintaining financial stability, the standard industry development, the people's bank of China to assume the rectification work, Mr. Xiao is laid down at that time.

After completion of rectification, the trust industry needs continue to develop into legal system orbit, to that end, Mr. Xiao organization to promote the establishment of the trust law of the People's Republic of China and introduced, and improve the measures for the administration of the trust and investment corporation, the creation of laws and regulations, for the subsequent development of trust industry laid the foundation system. Within the framework of the rule of law, China's trust industry since then there have been no systemic financial risk, along with economic growth rapid expansion, the trust has become an important financing channel outside the bank channel.

Tube and die, and not random, should be the financial regulator's pursuit of ideal state, Mr. Xiao is not only a financial regulation jolt, encourage innovation also has a lot of measures. "Event" wide international trust &investment, guangdong jittery financial markets, financial development stagnates, xiao when new central bank governor of the guangdong branch, is dedicated to hit guangdong finance seek opportunity to rest, the effect was obvious in hindsight. Director during the credit policy, Mr. Xiao has to push the car flag-waving, financial development for commercial Banks to cautious attitude, he has repeatedly emphasized "can relax some," the concept of consumer finance in China is still very unfamiliar concept at that time.

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