In the past few days, there has been a blockbuster news, and everyone has asked a lot of questions, that is, we have announced that foreign capital can hold 100% of the equity of banks and insurance institutions and achieve full control. So far, the restrictive measures related to the financial industry in the negative list for foreign investment access have been completely cleared up, and the national treatment has been realized.
Everyone thinks that this release is relatively sudden, and many people feel that this is very, very surprised. In the past, we have always talked about financial security, financial stability, and economic autonomy. Now choose to let go, why? Will it have any effect on us?
First of all, dare to let go because you have strength, so you don't have to worry about it. As long as you come in, then you must still have unified supervision, such as a large state-owned bank, do you say it will become someone else's? That's simply not possible. The four major state-owned banks all hold more than 70% of the shares, and as long as we don't sell them ourselves, it is impossible for others to take them. As for some local banks and small insurance companies, to be honest, in recent years, they have been greatly affected by real estate and local debts. It is not so easy to operate, and the introduction of some new funds and advanced management experience at this time is conducive to them getting out of the predicament and improving business efficiency. We have been talking about developing a financial power, so how can we be strong?
It's definitely not doing things behind closed doors, it's useless for you to just nest. We Chinese have never been afraid of competition, you can see from Google, eBei, including the new energy Tesla of the Internet, these breakthroughs, what is it? If we bring in strong foreign capital first, it will make us stronger. In the end, it will become a world-class advanced enterprise, and at the same time, finance is also the best way to reflect economic integration. It is deeply bound to the interests of the global economy, you have me, I have you.
The bigger our boat is and the more people there are, the more stable and farther you can travel. Therefore, for the public and enterprises, financial openness will make the market more active, competitive, and more productive, and we always say that we should increase the wealth income of the people. But in fact, there are not many products to choose from, and classmates are still very serious. When the general trend is bad, there is no trick, so foreign capital can bring advanced management experience and product innovation, so that investors have more choices, and diversification will also make the market more mature and stable. At the same time, the entry of foreign capital can also enrich financing channels and meet the more diversified financial needs of enterprises and individuals. With an international perspective and experience, we can continue to support the development of the real economy.
In short, the opening up of the financial industry seems to be sudden, but in fact, it has been being promoted. We started to enter China in 1978 and joined the WTO in 2001. At that time, the promise was to gradually open up the banking industry within five years, and in 2006, the restrictions on the geography, customers, and business scope of foreign banks were lifted, and in 2017, foreign holdings and management companies and ** companies were allowed. Up to now, the financial sector has been fully opened to the outside world, and everything is in accordance with the rules and traces.
The so-called anti-globalization is just some means played by a certain country, but in fact, we have always kept our original intention and embraced cooperation. Of course, this thing is not only a vision, but also a confidence. What do you think?