China to manage Stateowned financial capital

China will improve the management of its Stateowned financial capital to better serve the real economy, guard against financial risks and deepen financial reform.

State-owned financial capital is an important guarantee of promoting national modernization and maintaining national financial security, according to guidelines jointly issued by the Communist Party of China (CPC) Central Committee and the State Council.

The aim is to optimize the capital’s strategic layout, preserve or increase its value, and enhance the vitality and control of State-owned financial institutions, the guidelines said.

The guidelines also gave specific requirements on improving the management of Stateowned financial capital, including improving the administrative system, laws and regulations of the capital and strengthening the CPC’s leadership over State-owned financial institutions.