Qinghais establishment of Caifeng Risk Prevention Working Group Provincial Secre

China Qinghai Province establishes a financial risk prevention and resolution work leadership group.It is worth noting that Wang Jianjun, Secretary of the Provincial Party Committee and Changxin Changxing as the "Double Leader".The analysis believes that the arrangements of the provincial party committee and governor are relatively rare as the team leader, reflecting that localities attach unprecedented importance to preventing and resolving fiscal and financial risks.

According to the Qinghai Daily, the first meeting of Qinghai's financial and financial risk prevention and resolution work leadership group was held in Xining.Wang Jianjun, Secretary of the Provincial Party Committee and the leader of the provincial financial risk prevention and resolution work leadership group, attended and spoke, and the governor and leader group leader Xin Changxing presided over and spoke.

According to the First Financial Report, Wen Laicheng, the Central University of Finance and Economics, told reporters that from the current public information, this is China's first provincial financial risk prevention and resolution work leadership group.In addition, the group's specifications are very high.

Yang Zhiyong, a researcher at the Institute of Finance and Economics of the Chinese Academy of Social Sciences, said: "The setting of the Double Group leader is very important, indicating that local attaches great importance to the prevention and resolution of fiscal and financial risks. major risk prevention is one of the three major battles in China."P>

Many provinces have previously established a leading group of government debt management alone. The team leader is generally held by the governor.Earlier, some provinces have established a leadership team to prevent and resolve major risk leadership. Generally, the secretary of the provincial party committee as the team leader and the governor as the deputy team leader.

A number of financial and tax experts analyze that the Central Committee of the Communist Party of China requires the implementation of the financial and financial risk disposal mechanism responsible for the main leadership of the local party and government. The purpose is to compact the responsibility of local risk prevention and keep the bottom line of no systemic financial and financial risk.

Mao Jie, a professor at the University of Foreign Economics and Trade, analyzes that it is difficult to control risks by issuing policy documents. Especially if people do not control, some systems will be broken.Therefore, the key to truly control the risk is to hold people.The Secretary of the Qinghai Provincial Party Committee and the governor are the leaders of the local financial risk prevention and resolution working group, which has a strong role in inspiring the risk prevention work and supervision of local leading cadres.

Affected by the slowdown of economic growth, the economic growth rate of Qinghai has slowed in recent years. At present, the local area is also steadily recovering the level of epidemic.According to the Qinghai Provincial Financial Operation Report (2021) issued by the People's Bank of China, the non -performing loans and non -performing rates of financial institutions in Qinghai Province have "doubled".At the end of 2020, the balance of non -performing loans of financial institutions in Qinghai Province was 20.63 billion yuan (RMB, Same as the same, S $ 4.317 billion), a decrease of 24.39 billion yuan from the same period last year, and a non -performing loan rate of 3.1%, a decrease of 3.6 percentage points from the same period last year.

Qinghai Province has a low fiscal self -sufficiency rate, which mainly relies on the central government's financial transfer payment.According to data from the Qinghai Finance Department, as of the end of 2020, the balance of debt in the Qinghai Provincial Government was 245.434 billion yuan, an increase of 16.75%over the end of 2019; the government may have debt of 2.384 billion yuan, a decrease of 83.28%from the end of the previous year.In 2020, the Qinghai Provincial Government's debt ratio (government debt accounted for the total local product value) was 81.65%, which exceeded the EU 60%of the cordon.In 2020, the debt rate of Qinghai (the proportion of government debt in comprehensive financial resources) was 123.74%, exceeding 100%of the warning line.