(1) Preventing the risks of wealth management products. Organize the investigation of leverage risk of financial products to ensure that the risk indicators of financial products meet the regulatory requirements. Strengthen the supervision of the connection between bank wealth management funds and asset management products, standardize the investment, limit and transaction object of funds, and strictly control the high-interest financing operation through mezzanine investment, "real debt of famous stocks", "drawer agreement" and repurchase agreement. Standardize the development of bill business and strictly guard against taking and misappropriating bill funds. Strengthen the risk prevention and control of all kinds of stock market leveraged financing to ensure the compliance of leverage ratio of securities and futures asset management business. Pay close attention to the risks of investment products such as "universal insurance" of insurance companies. (Lead units: Chongqing Management Department of the People's Bank of China, Chongqing Banking Regulatory Bureau, Chongqing Securities Regulatory Bureau and Chongqing Insurance Regulatory Bureau)

(2) Strengthen the prevention of banking risks. Improve the ability of banking financial institutions to control credit risk, liquidity risk and operational risk, strengthen risk prevention in key areas and industries such as local government debt and real estate industry, and ensure that the bank's non-performing loan ratio is stable in a reasonable range. Explore the establishment of financial innovation record management and ledger monitoring system, strengthen the implementation of unified credit and list management system, strengthen credit management from the source, prevent multi-head loans and excessive credit, and strengthen dynamic risk management. Strengthen the supervision of process behavior, comprehensively promote the construction of audio and video recordings and outlets of wealth management products and consignment products, and seriously investigate and punish employees for selling "flying orders" and participating in illegal fund-raising. (Lead unit: Chongqing Banking Regulatory Bureau)

(3) Strengthen risk prevention in the securities market. Supervise securities fund futures institutions to strengthen investor suitability management and improve customer classification system and dynamic evaluation mechanism. Strengthen the information disclosure of listed companies and enterprises in the national share transfer system for small and medium-sized enterprises and standardize their operation. Supervise private fund managers to be honest and trustworthy, operate in compliance with laws and regulations, and severely punish violations of laws and regulations such as promises to protect capital and income, and illegal fund-raising. Pay close attention to the possible redemption risks of corporate bonds, interbank market financing instruments, corporate bonds and other products. (Lead unit: Chongqing Securities Regulatory Bureau; Partner: Municipal Development and Reform Commission, Chongqing Management Department of China People's Bank)

(4) Strengthening risk prevention in the insurance industry. Continue to do a good job in preventing the risks of due payment and abnormal surrender of insurance institutions, and prevent and resolve the risks of insurance fraud and other cases. Promote the construction of insurance anti-fraud center, and improve the construction of fraud clue screening system and information platform. Closely monitor the risks that may be brought about by the integration of new technologies such as the Internet and insurance, severely crack down on misleading sales and illegal operation of Internet insurance business, and effectively protect the legitimate rights and interests of consumers. (Lead unit: Chongqing Insurance Regulatory Bureau)

(V) Establish a high-leverage risk monitoring and early warning mechanism. In accordance with the principle of "transparency, isolation and controllability", we will focus on the cross-industry and cross-market operational risks of banks, securities, trusts, internet finance and other institutions. Strengthen the risk prevention and control of cross-cutting highly leveraged financial business, improve risk monitoring, evaluation, early warning, information sharing, major risk event reporting and other mechanisms to prevent risks from being hidden, transmitted and amplified. Study and formulate emergency measures for high leverage risks and promote the construction of a comprehensive statistical system for the financial industry. (Lead units: Chongqing Management Department of the People's Bank of China and Chongqing Banking Regulatory Bureau; Partners: Municipal Finance Office, Chongqing Securities Regulatory Bureau, Chongqing Insurance Regulatory Bureau)

Second, prevent and control local financial risks.

(1) Prevent factor market risks. Strict examination and approval of factor market institutions and businesses, strict implementation of the "five prohibitions", that is, no highly leveraged businesses such as futures trading, no high interest rates, no random fund-raising by fixed targets, no illegal establishment of "fund pool" and no establishment of peer-to-peer lending intermediary companies or businesses. Close high-risk non-main business and carry out risk investigation of exhibition agency. Strengthen the management of qualified investors, strengthen the management of investors' access qualifications and the legality review of capital sources, strengthen the leverage measurement and risk judgment in the whole process of capital operation, effectively implement the audio-visual system of product sales, and strengthen investors' risk awareness and risk warning. Strengthen the monitoring of trading margin, limit excessive speculation, and encourage commodity contract trading places to expand the proportion of spot settlement. (Lead unit: Municipal Finance Office; Cooperation unit: Municipal State-owned Assets Supervision and Administration Commission, Municipal Administration for Industry and Commerce)

(2) guard against the risks of new financial institutions. Strengthen on-site inspection and off-site supervision of microfinance and guarantee institutions, promote industry reduction and quality improvement, and improve the coverage level of risk provision. Revitalize the mortgage assets of microfinance companies, prevent and resolve liquidity risks, and keep the "three red lines", that is, do not illegally raise funds and absorb public deposits, do not issue loans with interest rates that violate the relevant provisions of the law, and do not use violence or intimidation to illegally collect loans. Strengthen the supervision of Internet small loan companies. Take advantage of the opportunity of the renewal of the business license of the guarantee institution to promote the withdrawal of the institution, promote the integration and reorganization of the government guarantee company, and speed up the clearing of the market. Organize and implement risk investigation of financial leasing, pawn and factoring industries. Strengthen the source management and dynamic monitoring of non-financial enterprises such as investment consulting companies that declare to engage in financial activities. (Lead unit: Municipal Finance Office; Partners: Municipal Commission of Commerce, Municipal Foreign Economic and Trade Commission, Municipal Administration for Industry and Commerce)

(3) Prevent Internet financial risks. We will comprehensively carry out special rectification of Internet financial risks, adhere to the principles of "cracking down on illegality, protecting legality, actively, steadily and orderly resolving, clarifying division of labor, strengthening cooperation, combining far and near, and overall rectification", and effectively prevent and resolve risks in the field of Internet finance through thorough investigation and classified rectification. Ensure that the negative list management policy of "ten prohibitions" of information intermediary in peer-to-peer lending is put in place. For risk events, supervise the implementation of the main responsibility of the institutions involved, and realize the effective mitigation and resolution of risks through the transfer of litigation rights, creditor's rights and equity. Standardize and clean up the internet business of various new financial institutions. (Lead unit: Municipal Finance Office; Cooperating unit: all members of the leading group for special rectification of Internet financial risks)

(4) Resolutely curb the spread of illegal fund-raising. Implement the Opinions of the State Council on Further Improving the Prevention and Disposal of Illegal Fund-raising, and improve the normalization, informationization and socialization of anti-illegal work. Strengthen grass-roots grid management, urge all districts and counties (autonomous counties) to fully open complaint reporting platforms, implement the reporting reward system, build a risk early warning platform system, and increase the intensity of group prevention and treatment. We will promote the establishment of a supervision system for listing major cases, intensify efforts to clean up accumulated cases, and improve the settlement rate of cases. Strengthen publicity and education to raise people's awareness of preventing and resisting illegal fund-raising. Implement the territorial responsibility of maintaining stability, formulate the management system of illegal fund-raising letters and visits, and improve the system of regular notification of case progress. (Lead unit: Municipal Finance Office; Cooperating unit: member units of the municipal leading group for cracking down on illegal financial activities, and people's governments of all districts and counties (autonomous counties).

Third, steadily resolve non-performing financial assets

(1) Strengthen collaborative risk management. Supervise banks, guarantee institutions, small loans and other institutions to strengthen communication and coordination, and improve the risk sharing mechanism of bank-enterprise cooperation. Creditors' committees will be set up to collectively study and determine measures such as increasing loans, stabilizing loans, reducing loans and restructuring for credit risk default events with large debts and with more than three creditor banks or five creditor small loan companies, as well as major credit risk default events involving financial institutions such as creditor banks and small loan companies. For the non-performing loans that have been formed, increase the write-off efforts to achieve "all trials should be tried"; For loans with potential risks, we should intervene in advance, revitalize assets and improve the quality of loans. Support financial institutions to establish a smooth mechanism for mitigating the credit risk of various enterprises, so as to serve for de-capacity and de-inventory. Properly handle the redemption risks of various trust products and asset management products, and improve the emergency response mechanism for risk events. (Lead unit: Municipal Finance Office, Chongqing Banking Regulatory Bureau)

(2) Improve the efficiency of handling credit default cases according to law. Promote the trial, judgment and execution of litigation cases. Explore the introduction of notarization, arbitration and other mechanisms in credit business to improve the efficiency of legal collection. Promote the special procedures for realizing security interests and improve the efficiency of disposing of collateral and non-performing assets. Strengthen the crackdown on fraudulent loans and evasion of debts. (Lead unit: Municipal Finance Office and Chongqing Banking Regulatory Bureau; Cooperation unit: relevant member units of the municipal leading group for cracking down on illegal financial activities)

(3) Expand the disposal channels of non-performing assets. Support the four major state-owned financial asset management companies to carry out business cooperation with private asset management companies in our city. Promote municipal state-owned asset management companies to carry out business such as acquisition, custody, transfer and disposal of non-performing credit assets. Actively explore the securitization of non-performing loan assets and the transfer of non-performing asset income rights, and expand new channels and methods such as batch disposal, agency disposal and entrusted disposal. (Lead units: Municipal State-owned Assets Supervision and Administration Commission, Municipal Finance Office, Chongqing Management Department of People's Bank of China, Chongqing Banking Regulatory Bureau)

Fourth, reduce corporate financial leverage.

(1) Support enterprises to replace high-interest debts. Find out the base of high-interest liabilities of enterprises, seize policy opportunities such as "debt-to-equity swap", and support enterprises to reduce excessive financing costs through multiple channels. For the unreasonable high-interest non-bank debts that conform to the national industrial policy, have a market, have orders and have benefits, banks, asset management companies and other institutions should be guided to assist enterprises in bond replacement by establishing supporting mechanisms such as risk compensation and credit enhancement in accordance with the principle of marketization. Actively do a good job in the statistical analysis of bond replacement. (Lead unit: Municipal Finance Office; Cooperating units: Municipal Development and Reform Commission, Municipal Finance Bureau, Municipal State-owned Assets Supervision and Administration Commission, Municipal Bureau of Small and Medium Enterprises, Chongqing Management Department of People's Bank of China, Chongqing Banking Regulatory Bureau)

(2) Improve the supplementary mechanism of enterprise capital marketization. Vigorously promote the listing financing of state-owned and private enterprises and strengthen the cultivation of resources of enterprises to be listed. Do a good job in stock market reform docking and project reserve, make good use of capital markets such as Singapore and Hong Kong, and expand overseas direct financing channels. We will continue to expand the scale of financing in the interbank market and the exchange market, and increase the popularization and application of innovative products that can be included in owners' equity, such as perpetual bills and directional convertible bills. Promote Chongqing Stock Transfer Center Corporation (OTC) to strive for the pilot qualification of listing recommendation of the New Third Board and realize interconnection with the national market as soon as possible. Give full play to the role of industrial guidance equity investment funds and strategic emerging industry equity investment funds, and develop key industries and district and county guidance funds. Actively explore and carry out business pilots such as investment and loan linkage and combination of stocks and bonds. (Lead unit: Municipal Finance Office; Cooperating units: Municipal Finance Bureau, Municipal State-owned Assets Supervision and Administration Commission, Chongqing Management Department of People's Bank of China, Chongqing Securities Regulatory Bureau)

(3) Strengthen supervision and guidance to reduce the financing cost of enterprises. Coordinate the use of monetary policy tools, regulatory policies and fiscal policies to guide financial institutions to change their business models, business behaviors, capital allocation and income cost calculation. Improve the self-discipline mechanism of interest rate pricing in Chongqing market; Urge financial institutions to clean up unnecessary "channels" and "chains" of funds, and standardize service charges and sales behavior management; Establish risk sharing and compensation mechanisms such as emergency loan revolving fund, small loan company financing center and re-guarantee system. Standardize intermediary charging behaviors such as evaluation, registration, auditing and insurance. Reform the profit assessment methods of government financing guarantee institutions and re-guarantee institutions. (Lead units: Municipal Finance Bureau, Municipal State-owned Assets Supervision and Administration Commission, Municipal Finance Office, Municipal Small and Medium Enterprises Bureau, Chongqing Management Department of People's Bank of China, Chongqing Banking Regulatory Bureau)

(4) Give play to the cost reduction function of the factor market platform. Further strengthen the five core functions of factor market, such as reducing transaction cost, price discovery, optimizing resource allocation, standardizing market order and realizing financial settlement, and accelerate the construction of a comprehensive service system integrating four centers of transaction, logistics, settlement and information. Improve the information integration function of factor market trading platform, help all parties solve the problem of information asymmetry, simplify trading procedures and reduce transaction costs. Strengthen supporting services such as warehousing, logistics and quality monitoring in factor market, and reduce distribution costs. Strengthen the settlement function of factor market, provide convenient settlement services for both parties to the transaction, and support the factor market to reduce transaction procedures. (Lead unit: Municipal Finance Office; Partner: SASAC)

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.