Shenzhen: Establish a sound working mechanism for information exchange, joint inspections, joint punishment, etc., and resolutely ensure that financial supervision has "long teeth and sharp claws".

The Financial Office of the Shenzhen Municipal Party Committee held a general meeting to study and implement the important speech of General Secretary Xi Jinping at the Central Economic Work Conference and the spirit of the Central Economic Work Conference. It mentioned the need to strengthen coordination between central and local governments, establish and improve mechanisms for information exchange, joint inspections, and joint punishment, strengthen the supervision of local small and medium-sized financial institutions in terms of institutions, behavior, functions, transparency, and continuous supervision, resolutely achieving "effective and sharp" financial supervision. We will do a good job in the supervision of local financial organizations, fully implement the requirements of the supervision of local financial organizations, continuously promote the reduction of "disconnected" and "empty shell" institutions, and help local financial organizations to reduce quantity and improve quality.