State Administration of Financial Supervision and Management: Strictly Prevent, Crack Down on, and Severely Punish Illegal Financial Activities, Resolutely Safeguard People's "Wallets"

On March 16, the Party Committee of the State Administration of Financial Supervision held an expanded meeting. The meeting emphasized that all levels of the system should take the lead in efforts, improve quality and efficiency, promote the early implementation of policies, and see measures take effect early, providing strong financial support for a good start and progress in the 14th Five-Year Plan. Safely resolving risks in key areas. Effectively and orderly advancing risk resolution for small and medium financial institutions, firmly maintaining the bottom line of no “爆雷” (financial blowouts). Further leveraging the “guaranteed delivery of housing” whitelist system, accelerating the establishment of a financing system compatible with new real estate development models. Lawfully and compliantly supporting the resolution of debt risks in financing platforms. Strictly preventing, cracking down on, and punishing illegal financial activities, and resolutely safeguarding the people’s “money bags.” (National Financial Regulatory Administration)