Recently, the China Banking and Insurance Regulatory Commission issued the guiding opinions on the banking and insurance industry supporting urban construction and Governance (hereinafter referred to as the Guiding Opinions), guiding the banking and insurance industry to better promote the construction of modern socialist cities.

This guidance is formulated to guide the banking and insurance industry to base on the new development stage, fully, accurately and comprehensively implement the new development concept, serve the new development pattern, and better support urban construction and governance.

Better support urban construction and governance.

Encourage banks and insurance institutions to increase effective financial supply in the fields of pension, nursery education, housekeeping, catering, accommodation, retail, culture, tourism and sports, support the construction of public cultural facilities, the production of cultural products, the protection and utilization of historical and cultural blocks and historical buildings, promote the inheritance and development of Chinese excellent traditional culture, and better meet the growing material and cultural needs of urban residents..

2、 Basic principle (1) serve the national strategy and promote coordinated development.

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The guiding opinions emphasize that we should comply with the law of development and adhere to the implementation of policies according to the city.

Take improving people’s sense of access, happiness and security as the starting point and foothold of financial services, meet people’s diversified, multi-level and high-quality financial needs, and promote people to share the fruits of urban development.

Urge banking and insurance institutions to enhance their comprehensive risk management capacity, strictly carry out risk assessment and project due diligence, avoid low-level blind development and repeated construction in cities, adhere to the positioning of “housing, housing and non speculation”, resolutely curb the implicit debt of local governments, and promote the banking and insurance industry to support the high-quality development of cities.

We should understand, respect and take into account the regional characteristics, population development, resource endowments, industrial structure, functional positioning and cultural characteristics of different cities, promote work with pertinence and emphasis, scientifically select and support key points, and reasonably allocate financial resources.

The guiding opinions specify that we should focus on people’s needs for material culture, health and safety, rights and interests protection, strengthen targeted work measures, and improve people’s sense of gain, happiness and security; We should support the improvement of urban functions and ecological restoration, promote the green and intelligent development of cities, and improve the level of urban construction and governance; We should serve the real economy, based on the comparative advantages of cities, focus on serving small and micro enterprises, characteristic industries, new citizens, urban-rural integration and scientific and technological innovation, and enhance the momentum of urban development.

The Guiding Opinions also put forward requirements for strengthening supervision and guidance, strictly abiding by the risk bottom line, and strengthening cooperation and communication with relevant parties.

Promote the comprehensive transformation of urban development to green ecology and build a modern city with harmonious coexistence between man and nature.

Recognize, respect and take into account the regional characteristics, population development, resource endowment, industrial structure, functional positioning and cultural characteristics of different cities, take differentiated measures with reference to the results of urban physical examination and evaluation and population change trend, scientifically select the key points of support, reasonably allocate financial resources, and promote the coordinated and characteristic development of large, medium and small cities and small towns based on Urban Agglomeration and metropolitan area.

（2） Comply with the law of development and adhere to the implementation of policies for the city.

3、 Focus on the people and improve the people’s sense of gain, happiness and security (I) focus on the people’s material and cultural needs and improve the quality of urban life.

（3） Adhere to serving the people and promote green development.

（4） Give play to the role of the market and deepen reform and innovation.

（5） Strictly abide by the risk bottom line to ensure safety and efficiency.

Promote the construction of a modern socialist city to the satisfaction of the people.

Follow the law of financial development, give full play to the decisive role of the market in the allocation of financial resources, give full play to the role of insurance guarantee, deepen the reform and innovation of banking and insurance industry, stimulate the vitality of market subjects, and promote the benign interaction and symbiotic development of Finance and urban real economy.

Guided by major regional strategies such as the coordinated development of Beijing, Tianjin and Hebei, the development of the Yangtze River economic belt, the construction of the Great Bay area of Guangdong, Hong Kong and Macao, the integrated development of the Yangtze River Delta, the ecological protection and high-quality development of the Yellow River Basin, and based on the western, northeast, central and Eastern plates, promote interregional integration, interaction, accommodation and complementarity, and help form a new regional coordinated development mechanism with strong overall planning, orderly competition, green coordination and win-win sharing.

Promote the construction of a modern socialist city to the satisfaction of the people.