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the third plenary session of the 20th cpc central committee made major arrangements for deepening financial system reform, and clearly proposed "improving the positioning and governance of financial institutions, and improving the incentive and constraint mechanism for serving the real economy". this requires financial institutions to clarify their own positioning, focus on their main responsibilities and businesses, establish correct concepts of operation, performance and risk, improve their own governance structure, and promote their long-term development with the effectiveness of serving the real economy.

serving the real economy is the essence and origin of finance. throughout the history of finance, once finance is separated from the real economy and is keen on self-circulation and self-expansion, it will become a water without a source and a tree without roots, which will lead to the collapse of the industry at the least and a financial crisis or even an economic crisis at the worst. financial institutions cannot "talk about finance", cannot engage in excessive derivative transactions that are divorced from the real economy, cannot engage in so-called "innovation" to evade supervision, and cannot engage in ponzi schemes. we must always put serving the real economy first, promote the formation of new quality productivity by providing better quality and more efficient financial services, better serve the people's well-being, help build a strong country in science and technology, and promote the virtuous cycle and healthy development of the economy and finance.

since the 18th cpc national congress, my country's financial industry has developed rapidly. according to statistics from the people's bank of china, by the end of 2023, the total assets of my country's financial institutions were 461.09 trillion yuan. making good use of these financial assets and continuously improving the competitiveness, innovation, control, influence and risk resistance of the financial industry can adjust the economic structure, optimize resource allocation, reduce corporate financing costs, improve total factor productivity, help meet the diversified needs of the real economy, and promote high-quality development of the national economy.

at the same time, we should also see that the quality and efficiency of current financial services for the real economy need to be further improved. it is of great significance to improve the positioning and governance of financial institutions and improve the incentive and constraint mechanism for serving the real economy. on the one hand, we should clarify our own positioning and focus on our main responsibilities and businesses. based on providing high-quality financial services, the financial system should focus on five major articles: science and technology finance, green finance, inclusive finance, pension finance, and digital finance. on the other hand, we should strengthen the construction of the internal control system of financial institutions. adhere to the "two consistent principles", deepen the organic integration of party building and corporate governance, and give full play to the leadership role of the party committee of financial institutions in setting the direction, managing the overall situation, and ensuring implementation. in accordance with the principles of marketization and rule of law, we should improve the operating requirements of financial services for the real economy and improve the due diligence exemption regulations for serving the real economy. at the same time, we should implement the authorization system, strengthen responsibility constraints, strengthen the management of key personnel and important businesses, and strictly prevent corruption risks. actively cultivate a financial culture with chinese characteristics and build a financial ecological environment that is honest, stable, and innovative.