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On August 21, the State Council Information Office held a series of press conferences on "Promoting High-quality Development".

At the meeting, Xiao Yuanqi, deputy director of the State Financial Supervision and Administration Bureau, introduced that the Financial Supervision Bureau has deeply implemented the political and people-oriented nature of financial work, and promoted the construction of a strong country and the great cause of national rejuvenation with high-quality financial development. my country has formed a multi-level, wide-coverage, and differentiated financial institution system. The scale of banking assets ranks first in the world, and the scale of the insurance market ranks second in the world.

We will continue to deepen the structural reform of the financial supply side, guide financial institutions to establish a correct view of political achievements and development, focus on their core businesses, work hard on their internal strengths, further shift to refined management of connotations, and promote high-quality and sustainable development of the industry.

The asset size grew steadily.At the end of July, the total assets of banking financial institutions were 42.38 trillion yuan, a year-on-year increase of 7%; the total assets of the insurance industry were 3.39 trillion yuan, an increase of 7.7% from the beginning of the year.

Asset quality remained stable, and the non-performing loan ratio declined steadily.Credit RiskThe situation is generally under control. At the end of July, the non-performing loan ratio of the banking industry was 1.61%, 0.08 percentage points lower than the same period last year. Efforts to dispose of non-performing assets have also been further strengthened.Banks disposed of 1.4 trillion yuan of non-performing assets in the first half of this year。

Risk compensation has been stable and growing. At the end of July, the bank loan provision coverage ratio was 216.7%, which means that the loan loss provision was more than twice the non-performing loan. At the same time, at the end of the first half of the year, the bank's capital adequacy ratio was 15.53%, and the insurance company's comprehensive solvency and core solvency adequacy ratios were 195.5% and 132.4% respectively. The "ammunition" of banks and insurance institutions to resist risks is still very sufficient.

Liquidity is stable and improving. The two main liquidity indicators of banks, liquidity coverage ratio and net stable funding ratio, are in line with regulatory requirements. Therefore, my country's banking industry is currently stable and improving, risks are controllable, and the main operating indicators and regulatory indicators are in a healthy and reasonable range.

The ability of financial institutions to serve the real economy has been further enhanced, especially the financial supply to major strategies, key areas and weak links has continued to increase, and has become more precise and efficient.

The total amount of funds has increased steadily. At the end of July, the balance of RMB loans was 25.1 trillion yuan, an increase of 13.5 trillion yuan from the beginning of the year; the balance of bond investments by banks and insurance institutions was 10.3 trillion yuan, an increase of 4.9 trillion yuan from the beginning of the year; and the balance of insurance funds was 3.1 trillion yuan, an increase of 7.4% from the beginning of the year.

The capital structure has also been further optimized. The main support has been increased for advanced manufacturing and technological innovation. By the end of July, manufacturing loans had increased by 11.4% year-on-year, and high-tech industry loans had increased by 13.9% year-on-year. In addition, the level of financial services for small and micro enterprises and the "three rural" areas has been continuously improved. At the end of July, inclusive small and micro enterprise loans increased by 17.1% year-on-year.Silver EconomyThe support is further enhanced. At the end of July, the loans to the elderly care industry increased by 16.1% compared with the beginning of the year. In terms of the deep integration of the digital economy and the real economy, the loans to the core industries of the digital economy increased by 12.4% year-on-year.

In addition, the insurance industry has played an important role in the rapid recovery of production and life after disasters by providing insurance services for disasters such as rainstorms and floods. In the first seven months, the insurance industry paid out 1.39 trillion yuan in compensation and benefits, a year-on-year increase of 30.2%.BondsThe insurance industry provided various types of financing support, including through loans, securities lending and stocks, totaling 28.5 trillion yuan.