Highlights of major economic policies in 2022

The People's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and other government bodies released their major tasks related to economic development for 2022 mapped out by the Central Economic Work Conference. Let's take a look.

The People's Bank of China

Maintain a flexible and moderate prudent monetary policy, and reasonable and ample liquidity.

Support the development of fintech in accordance with the law and in a standardized manner, and strengthen efforts on anti-monopoly and antitrust.

Steadily and orderly advance the research and development of e-CNY.

China Banking and Insurance Regulatory Commission

Cooperate with local governments to mitigate risks from hidden debt.

Prudently handle the debt risks of large entity enterprises.

Standardize and supervise financial services on internet platforms in accordance with the law.

China Securities Regulatory Commission

Give top priority to ensuring stability, make progress while maintaining stability, and work hard to maintain steady and sound development of the capital market.

Implement registration-based IPO system across China's A-share market.

Strengthen the role of the capital market and promote high-quality development of the real economy.

National Development and Reform Commission

Improve the quality and expand consumer-oriented service industries such as medical and healthcare, elderly care and nursing, culture, tourism and sports.

Promote the construction of 102 key projects mapped out in the 14th Five-Year Plan (2021-25).

Encourage and guide private capital to participate in projects in transportation, logistics, ecological environment, and social programs.

Ministry of Finance

Roll out new tax cuts and fee reductions.

Further deepen the trial reform of real estate tax.