China to improve management of State-owned financial capital

BEIJING - China will improve the management of State-owned financial capital to better serve the real economy, guard against financial risks and deepen financial reform.

The State-owned financial capital is an important guarantee of promoting national modernization and maintaining national financial security, according to the guideline issued jointly by the Communist Party of China (CPC) Central Committee and the State Council.

The aim of improving management of State-owned financial capital is to optimize the strategic layout of the State-owned financial capital, enhance the vitality and control of State-owned financial institutions, and preserve or increase the value of State-owned financial capital, said the guideline.

The guideline gives specific requirements on improving the management of State-owned financial capital, including improving the administrative system, laws and regulations of State-owned financial capital, strengthening the CPC leadership over State-owned financial institutions and enhancing supervision on State-owned financial capital.