Serving as the main force in supporting the real economy: China’s six major state-owned banks have collectively announced their plans for the next phase of work.

  Following the convening of the Central Financial Work Conference, the six major state-owned banks promptly held meetings to convey and study the spirit of the conference and to formulate plans for its implementation.

  Going forward, how will the major state-owned banks “excel in the five key areas of technology finance, green finance, inclusive finance, elderly‑care finance, and digital finance,” and “serve as the mainstay in supporting the real economy and the stabilizing anchor for financial stability”?

  The Industrial and Commercial Bank of China (ICBC) convened an expanded Party Committee meeting, at which it proposed consolidating and strengthening the bank’s distinctive strengths in serving the manufacturing sector. The bank will, in light of actual conditions, deepen and refine its efforts across five key areas—technology finance, green finance, inclusive finance, elderly‑care finance, and digital finance—actively supporting the development of a new type of industrialization and the cultivation of new‑quality productive forces, while comprehensively enhancing its services to the modern industrial system. Upholding an international outlook and global operations, ICBC will increase financial support for initiatives such as the joint construction of the Belt and Road and BRICS cooperation, thereby contributing to the establishment of a new development paradigm.

  The Party Committee of the Agricultural Bank of China convened a meeting, stating that it will serve as the leading bank in providing financial services for rural revitalization and the mainstay in supporting the real economy. By year-end, the bank will focus on key areas such as stabilizing growth and expanding domestic demand, stepping up financing support for inclusive agriculture, rural areas, and farmers; technological innovation; advanced manufacturing; and green development. It will also proactively coordinate to deliver financial services for the construction of the “three major projects,” including affordable housing, thereby helping the real economy continue to recover and improve.

  The Party Committee of the Bank of China convened a meeting, stating that it will steadfastly continue to provide high-quality financial services to support economic and social development. Focusing on five key areas—technology finance, green finance, inclusive finance, elderly‑care finance, and digital finance—as well as major national strategies and policy decisions such as high‑level financial opening-up, the bank will formulate concrete action plans, strengthen the delivery of premium financial services to critical national strategies, priority sectors, and vulnerable links, and fully demonstrate the sense of responsibility and commitment expected of a large state‑owned financial institution, thereby serving as the main force in supporting the real economy and a stabilizing anchor for financial stability.

  The Construction Bank convened a Party Committee meeting, emphasizing that the overarching theme should be advancing high-quality financial development, with deepening supply-side structural reform in the financial sector as the central task. It called for unlocking credit resources through multiple channels, ensuring the stability, effectiveness, and sustainability of credit allocation, unblocking channels for capital to flow into the real economy, and providing robust support for major national strategies and balanced regional development, thereby fostering a virtuous cycle between the economy and finance. The bank will actively support the growth and strengthening of advanced manufacturing, facilitate the transformation and upgrading of traditional manufacturing, and help drive the industry toward higher-end, smarter, and greener development. It will maintain steady growth in infrastructure lending and step up the provision of complementary loans for infrastructure‑fund‑backed projects. Furthermore, it will ensure strong financial support for the implementation of the “Three Major Projects,” bolstering the resilience and security of industrial and supply chains by focusing on small, medium, and micro enterprises along these chains and tailoring supply‑chain financial solutions to serve an expanding array of industries.

  The Bank of Communications convened a Party Committee meeting, calling for the full implementation of all requirements for deepening supply-side structural reform in the financial sector, unblocking channels for capital to flow into the real economy, and ensuring that overall credit growth remains robust while optimizing its structure and appropriately extending favorable terms. The bank will allocate more financial resources to key areas such as technological innovation, advanced manufacturing, green development, and small, medium, and micro enterprises, thereby effectively enhancing the efficiency of financial resource allocation. It will also strengthen group-wide coordination and synergy, continuously bolster financial functions, improve service quality and effectiveness, and comprehensively meet the growing financial needs of economic and social development and the general public.

  The Party Committee of Postal Savings Bank of China convened a meeting, emphasizing the need to steadfastly support high-quality economic and social development, remain committed to serving “agriculture, rural areas, and farmers,” urban and rural residents, and small and medium-sized enterprises, and leverage the bank’s distinctive strengths and advantages. It called for channeling greater financial resources into key sectors of the real economy, addressing weak links, and aligning with major national strategic priorities, thereby writing a strong chapter for Postal Savings Bank in the five major areas of science-and‑technology finance, green finance, inclusive finance, elderly‑care finance, and digital finance, and continuously meeting the growing financial needs of economic and social development and the people through even higher‑quality financial services.

  In addition, the six major state-owned banks all underscore the importance of balancing development with security. Industrial and Commercial Bank of China stated that it will robustly, orderly, and effectively prevent and defuse risks in areas such as real estate, local government debt, and small- and medium-sized financial institutions, thereby proactively safeguarding financial stability, economic security, and overall social stability. Agricultural Bank of China indicated that it will continue to refine its group‑wide integrated risk management framework and comprehensively enhance its risk‑prevention and control capabilities in the new context. Bank of China called for sustained efforts to strengthen country‑specific risk management, sanctions compliance, and anti‑money‑laundering oversight. China Construction Bank emphasized providing financial support to ensure timely delivery of pre-sold housing projects, meeting reasonable funding needs in the real estate sector, and continuously exploring financial solutions to establish a new model of real estate development. Bank of Communications noted that it will keep improving its ability to identify cross‑border risks and mount comprehensive responses, effectively preventing the cascading transmission of risks across regions, markets, and jurisdictions. Postal Savings Bank of China stressed the need to vigorously and effectively manage and resolve risks in key areas, firmly upholding the bottom line of preventing systemic financial risks.

[Editor-in-charge: Yan Huizhuo]

Source: Securities Daily