China Banking and Insurance Regulatory Commission: Vigorously prevent and resolve risks in key areas in an orderly manner, and support a stable real estate market.

According to the Wisdom Financial APP, on December 12th, the Party Committee of the China Banking and Insurance Regulatory Commission held a meeting to convey and study the spirit of the Central Economic Work Conference, and to discuss the implementation measures in accordance with the requirements of the National Financial System Work Conference. The meeting emphasized the need to effectively and orderly prevent and resolve risks in key areas. It is necessary to firmly fulfill the primary responsibility of risk prevention and control, focus on resolving existing risks, decisively curb incremental risks, and strictly adhere to the bottom line of not triggering a financial crisis. The meeting also highlighted the need to consolidate and expand the achievements of reform and risk reduction, and to further promote the reduction and improvement of small and medium-sized financial institutions. Support for stabilizing the real estate market, further leveraging the role of urban real estate financing coordination mechanisms, and assisting in the construction of a new development model for the real estate sector. It also instructed banks and insurance institutions to actively address the financial risks of local government financing platforms according to market-oriented and rule of law principles.