Cui Yu, chairman of the National People's Congress and chairman of the city silver and Qing Dynasty: "the commercial bank law" does not match with the practice of business development. It
Economic Observer network reporter Hu Yanming The two NPC sessions are being held. The Economic Observer network reporter was informed that Cui Yu, chairman of the National People's Congress and chairman of the city silver clearing service limited company, proposed this year's proposal to amend the People's Republic of China Commercial Bank Act (hereinafter referred to as the Commercial Bank Law).
Cui Yu believes that the revision of the commercial banking law has been included in the legislative plan of the thirteen NPC Standing Committee. It is urgent to promote the legislation as soon as possible so as to perfect the top-level design of legislation and solve the problem of the gradual lag of commercial bank legislation and the practice of banking industry development, so as to provide institutional guarantee for the establishment of a modern banking governance and supervision system. Therefore, it is necessary to speed up the revision of the commercial bank law.
Before serving as chairman of the city silver clearing service limited liability company, Cui Yu served as governor of the Nanning central sub branch of the people's Bank of China. Cui Yu told reporters that he has been working in the people's Bank System for many years, and has a deep understanding from the perspective of promoting the overall development of the banking industry, supervising the operation of commercial banks, and serving the transformation and development of commercial banks. Judging from the current top-level legal environment of commercial banks, the contradiction between the current commercial bank law and the practice of commercial banks' development does not match.
Cui Yu suggested that in the revision of the commercial banking law, we should further strengthen financial supervision, such as clearly defining the categories and standards of commercial banks, clearly classifying supervision concepts, further standardizing management and management, appropriately relaxing the restrictions on cross boundary business of commercial banks, and further standardizing the credit of small and micro enterprises, strengthening capital constraints, improving corporate governance and information disclosure, and increasing commercial banking. Specific suggestions were put forward in terms of penalties for violations.
Economic Observer: what makes you pay attention to the revision of the commercial banking law?
Mr. Yu: First of all, for many years, I have been working in the people's bank system, and I am familiar with the management of commercial banks. It is now the chairman of a financial infrastructure owned by the people's Bank of China. Therefore, from the perspective of promoting the overall development of the banking industry, supervising the operation of commercial banks, and serving the transformation and development of commercial banks, we have a deep understanding. Judging from the current top-level legal environment of commercial banks, the contradiction between the current commercial bank law and commercial banks' business development practices is becoming increasingly prominent. Therefore, it is urgent to promote the perfection of top level legislation as soon as possible, so as to provide institutional guarantee for the establishment of modern banking governance and supervision system.
Secondly, from the aspects of supporting financial market reform, scientifically classifying and supervising commercial banks, strengthening the financial service entity economy, supporting the development of small and micro enterprises, promoting the sustainable development and scientific innovation of commercial banks, and improving the corporate governance and information disclosure of commercial banks, we must amend the commercial banking law in order to meet the actual needs of development and guide banks to return. We should focus on the source and serve the real economy, strengthen the prevention and defuse of financial risks, and maintain financial stability.
The above is the reason why I propose to the Standing Committee of the National People's Congress to amend the law of the People's Republic of China commercial bank in due course.
Economic Observer network: we have noticed that this year, many NPC deputies and CPPCC members have put forward relevant proposals to amend the commercial bank law. What do you think are the reasons for the common concern of many representatives of the industry?
Mr. Yu: Many representatives of the industry also put forward proposals to amend the commercial bank law. I think these representatives, like me, are rooted in this industry and are concerned about and expect the industry to develop faster and better. Some of them are market regulators, some of them are heads of financial institutions. Although they are engaged in specific work, they all pay close attention to the current economic and financial development trend, and have some thoughts on the environment and challenges faced by commercial banks. We all realize that the current commercial banking law has not matched with the current economic and financial development and the development of commercial banks, and has made relevant amendments from different angles. From this perspective, it is imperative and urgent to amend the commercial banking law.
Economic Observer network: in your opinion, what are the reasons for the revision of the commercial bank law?
Cui Yu: first, support the objective needs of financial market reform. The nineteen party clearly put forward that we should implement the new development concept, build a modern economic system, and keep the bottom line of systemic financial risks. We also need to "deepen the reform of the financial system, enhance the capacity of the real economy of financial services, raise the proportion of direct financing, and promote the healthy development of multi-level capital markets." This puts forward new requirements for commercial banks' financial supervision, business management and risk prevention. Amending the commercial bank law helps to guide banks to return to their original sources and serve the real economy. It helps to prevent and defuse financial risks and maintain financial stability.
Second, the need for scientific classification and supervision of commercial banks. At present, the classification and supervision of commercial banks are still in accordance with state-owned commercial banks, national joint-stock commercial banks, urban commercial banks, private banks, rural financial institutions, village banks and so on. However, in the actual operation, on the one hand, the urban commercial banks cross regional and rural financial institutions are more common in urban areas, and the regional management attributes of commercial banks have weakened. On the other hand, the volume of commercial banks and rural financial institutions in some cities has exceeded or close to the national shareholding commercial banks. The existing classification supervision mode has been unable to adapt to the actual situation. The commercial bank law must adjust the classification standard of commercial banks in time.
Third, the need for sustainable development and scientific innovation of commercial banks. At present, with the development of Internet and financial technology, commercial banks have gradually expanded their business scope. Information management, financial management, trusteeship and Internet credit business have become important businesses of commercial banks, but the business scope of commercial banks has not yet been covered. It is necessary for the commercial bank law to expand appropriately the scope of business operation of commercial banks.
In addition, some commercial banks have launched trust investment business through the establishment of credit card subsidiary companies; some commercial banks have initiated the establishment of fund management companies to carry out related securities investment and fund management businesses; some commercial banks have also invested in non banking financial institutions such as insurance companies. However, the current commercial bank law is stricter for foreign investment restrictions of commercial banks, and does not match the actual situation at present. Therefore, it is necessary to make appropriate adjustments.
Fourth, the service entity economy supports the needs of small and micro enterprises. The development of small and micro enterprises is of great significance to national economic development, social stability and improvement of people's livelihood. However, due to the absence of legal support, the commercial banks are lack of innovation power in the service of small and micro enterprises credit. For example, loans that have already done the "due diligence" but still have risks are still subject to accountability, which is different from the widely applicable "duty free" practices abroad. Therefore, in the process of the revision of the commercial bank law, it is necessary to consider encouraging small and micro enterprises to provide services for small and micro businesses by means of defining the credit requirements of small and micro enterprises.
Fifth, commercial banks need to improve corporate governance and information disclosure. The eighteenth provision of the commercial bank law stipulates that a wholly state-owned commercial bank should set up a board of supervisors. However, from the perspective of corporate governance and risk prevention, all kinds of commercial banks should set up a board of supervisors. At the same time, the current regulation is that within three months of the end of each fiscal year, commercial banks will announce their business performance and audit report of the previous year. But in practice, most listed commercial banks usually publish annual reports and audit reports by the end of April each year. It is necessary to optimize and adjust the above provisions in the commercial bank law.
Reporter: what are the specific proposals for the revision of the commercial banking law?
Mr. Yu: It is proposed to make the following amendments to the commercial banking law:
(1) to further strengthen financial supervision and regulation. It is proposed to add one item to the general provisions of the first chapter of the commercial banking law, to clarify the categories and standards of commercial banks (for example, to classify commercial banks according to the size of commercial banks' assets), and at the same time, to clarify the concept of classified supervision.
(two) further standardize management. First, we should appropriately expand the scope of operation of commercial banks in accordance with the third article of the commercial bank law.
Two, in accordance with the forty-third clause of the commercial bank law, we should appropriately relax restrictions on cross boundary business of commercial banks. "Commercial banks should not engage in trust investment and securities business in People's Republic of China, nor invest in non self employed real property or invest in non banking financial institutions and enterprises." except for other provisions stipulated by the state, such adjustments shall be adjusted accordingly. The actual operation and management of industrial banks.
(three) further standardize the credit of small and micro enterprises. It is suggested that the relevant provisions of small and micro credit in commercial banks should be increased in the basic rules of loans and other businesses in the fourth chapter of the commercial bank law.
(four) further strengthening capital constraints. First, aiming at the thirteenth part of the commercial bank law, the establishment of the registered capital of commercial banks suggests that we should comprehensively consider the requirements of capital constraints and risk prevention of commercial banks, and reasonably raise the minimum amount of registered capital so as to meet the normal business operation and risk control needs of commercial banks.
(five) further improve corporate governance and information disclosure. First, it is suggested that the eighteenth law of the commercial bank law be amended as "the establishment of a supervisory board by commercial banks". Two, it is suggested that the fortieth section of the commercial bank law further expand the scope of the relationship between commercial banks and effectively prevent insider control and related transaction risks on the basis of the existing provisions.
The three is to recommend the fifty-sixth clause of the commercial bank law, and make appropriate adjustments to the time requirements for commercial banks to announce the audit reports.
(six) increase penalties for commercial banks. Compared with the economic and social negative effects caused by the illegal activities of commercial banks, the penalties for illegal acts are relatively low. It is suggested that the penalties for violations should be appropriately increased in accordance with the seventy-third article of the commercial banking law, so as to enrich the penalties for illegal behaviors.
Finally, in order to build a comprehensive market-oriented financial market legal system, the new commercial bank law should be coordinated with the upcoming civil code, the people's Bank Law, the banking supervision and management law, the securities law, the insurance law, the company law, the enterprise bankruptcy law and the futures law. The combined advantages of financial behavior and constantly improving China's financial governance system.