Beiqing daily: financial anti-corruption breakthrough means deepening anti-corruption struggle
China’s financial anti-corruption has made important progress and has become an important entry point to promote the escalation of the anti-corruption struggle. Financial anti-corruption is a necessary condition for building a clean and efficient financial management system. Only when China has a standardized and clean financial system can it effectively maintain the financial order and promote the safe operation of the financial industry, it provides important basic guarantee for national Home Aegis and public interests.
On April 9, the Chinese government website announced the full text of the speech made by Premier Li Keqiang of the State Council at the fifth Clean Government work conference of the State Council on March 21. Li Keqiang pointed out that to further strengthen state-owned enterprises and financial supervision, effective measures must be taken to prevent the loss of state-owned assets while enhancing the vitality of state-owned enterprises and promoting the steady development of the financial industry, prevent corruption risks in the financial sector. The speech also stressed that individual regulators and company executives should be severely punished and used as an example for illegal acts such as self-theft and collusion with financial predators.
Premier Li Keqiang’s statement on financial anti-corruption attracted special attention. On the day when the full text of the speech was published, the financial anti-corruption hit a heavy blow. The Central Commission for Discipline Inspection announced that Xiang Junbo, chairman of the China Insurance Regulatory Commission, was suspected of a serious violation of discipline and was undergoing organizational review. Xiang Junbo is the first regular chairman to be examined since China set up “one line and three meetings”. His investigation shows that anti-corruption has been carried out in the financial field in depth. At the same time, Xiang Junbo’s failure has also become a powerful footnote to the financial anti-corruption speech-finance is the blood of the national economy, and severely punishing corruption in the financial field is by no means a talk.
Shortly after the closing of the national “two sessions” this year, the fifth Clean Government work conference of the State Council was held. The main task was to study and implement the spirit of the seventh plenary session of the 18th Central Commission for Discipline Inspection, and at the same time to deploy the key tasks of anti-corruption campaign in 2017. The communique of the seventh plenary session of the 18th Central Commission for Discipline Inspection held at the beginning of the year proposed that the overwhelming situation of anti-corruption struggle had already taken shape. Next, China’s anti-corruption will move from treating the symptoms to curing the root causes, and 2017 will become an important year for the fight against corruption.
At this time, the State Council highlighted the financial anti-corruption, and the Central Commission for Discipline Inspection also gave a strong footnote, indicating that financial anti-corruption will become a symbolic feature of this year’s anti-corruption struggle. A major breakthrough in financial anti-corruption not only means that more financial corrupt elements will emerge in the near future, but also indicates that the upgrading of China’s anti-corruption struggle is underway and anti-corruption has begun to move towards the root cause.
The main feature and inevitable requirement of anti-corruption governance is that the anti-corruption struggle continues to advance on the track of institutionalization and legalization. Institutionalized and legalized anti-corruption not only includes the reform of governance modes such as the national supervision system, but also includes the reform of supervision modes in important areas such as finance and people’s livelihood. If the “fence” in the financial field is full of loopholes, the supervisor will “steal”, the “barbarian” will invade, and the political and commercial collusion will be held, then the “rich club” composed of financial predators and corrupt officials “, talking and laughing can drain China’s real economy and capture the wealth that belongs to all the people. It is imperative to build a clean and honest bottom line for the regulators of China’s financial industry and set a red line for the development of China’s financial industry.
Recently, financial anti-corruption has made breakthrough progress, which has created very favorable conditions for strengthening financial supervision and deepening anti-corruption work. Looking back on the process of financial anti-corruption struggle in recent years, we can find that this road is not easy. Behind the corruption problems of senior executives of financial institutions or senior officials of financial supervision departments, there are often complex political and business networks. Financial corruption is interwoven with political corruption, which makes financial anti-corruption a deep water area of anti-corruption campaign, critical area.
As an important part of China’s corruption struggle, financial anti-corruption has also achieved significant gains in previous years. In early 2015, Mao Xiaofeng, the bank of Minsheng Bank, was investigated by the organization for serious violations of discipline and law, he became the first financial executive in a while. The severe turmoil in the stock market in 2015 caused heavy losses to investors, but it also greatly accelerated the process of China’s financial anti-corruption. The abnormal fluctuation of the stock market exposed the “comprador” and insiders hidden in the financial field. Zhang Yujun, assistant to the chairman of the CSRC, and a group of brokerage executives fell down one after another. Since last year, the “barbarians” in the insurance industry have been making a big noise in the capital market, which has also made the insurance sector the focus of supervision, and financial anti-corruption has also ushered in a new breakthrough.
Under the dual functions of its own logic and problem orientation, China’s financial anti-corruption has made important progress, and it has also become an important entry point to promote the escalation of the anti-corruption struggle. Of course, the whole meaning of financial anti-corruption is not limited to anti-corruption. A profound and comprehensive financial anti-corruption is a necessary condition for building a clean and efficient financial management system. Only with a standardized and clean financial system can China effectively maintain the financial order, promote the safe operation of the financial industry, and provide important basic guarantee for the country’s Home Aegis and public interests.
Fan Dahao, a commentator of this newspaper
1720
China’s financial anti-corruption has made important progress and has become an important entry point to promote the escalation of the anti-corruption struggle. Financial anti-corruption is a necessary condition for building a clean and efficient financial management system. Only when China has a standardized and clean financial system can it effectively maintain the gold
