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The SAFE convened an extended meeting of the central team of the Party Leadership Group on September 21, 2009 to deliver and study the spirit of the Fourth Plenary Session (hereinafter referred to as the Session) of the 17th CPC Central Committee, and made plans for the tasks related to implementation of the spirit of the Session. Yi Gang, secretary of the Party leadership Group and administrator of the SAFE, chaired the meeting.
It was pointed out at the meeting that the Session is an important meeting on the eve of the 60th anniversary of the founding of the New China, which is of significant and far-reaching importance for carrying out the spirit of the 17th CPC National Congress in an all-around manner, deeply implementing the scientific outlook on development, effectively coping with the impact of the global financial crisis, maintaining steady and rapid growth of the national economy, striving for new victories for the building of well-off society, as well as opening up new prospects for the construction of socialism with Chinese characteristics. It was proposed at the meeting that all Party members and cadres of the SAFE should earnestly comprehend the spirit of the Session, act in full conformity with the CPC Central Committee, continue to emancipate the mind, strive to be innovative and to blaze new trails, actively update concepts for foreign exchange administration, further enhance the service-oriented and market-oriented awareness of foreign exchange administration, constantly increase the service and management level of foreign exchange administration, and conscientiously safeguard the economic and financial security of the state so as to promote the steady and rapid development of the national economy.
Yi Gang stressed that there still will be twists and turns before the global economy recovers. Since the foundation for an upswing in Chinas national economy is still not stable, firm, and balanced, the national economy is at a critical stage for maintaining growth and rebounding. To do a good job in foreign exchange administration requires that we comply with the important and strategic planning of the Session on strengthening and improving Party construction for the present and for the upcoming period, exert a major effort to construct a study-oriented Marxist political party, improve ideological and political consciousness of all Party members, persist in and perfect the system of democratic centralism, actively develop intra-Party democracy, deepen the reform of the personnel system relating to cadres, build ranks of high-quality cadres, fulfill the duties for fundamental work by improving work at the grassroots level, consolidate the organizational foundation for the leadership of the Party, carry forward the fine work style of the Party, maintain close bonds between the Party and the masses, speed up construction of a system to punish and prevent corruption, and thoroughly carry out the anti-corruption drive.
It was pointed out at the meeting that some uncertainty will still exist for some time to come in terms of international capital flows and the balance of payments. Against the backdrop of the new circumstances and challenges, the foreign exchange administration departments should consolidate confidence and enhance the sense of crisis and risk awareness. The departments should continue to prioritize the maintenance of steady and rapid growth of the national economy as well as to promote a basic equilibrium in the balance of payments for foreign exchange administration, based on a scientific judgment of the economic situations both at home and abroad. The foreign exchange administrations must consistently cater to the needs for the steady and rapid growth of the national economy when fulfilling their duties, act in conformity with the policy orientation to prevent massive outflows or sudden influxes of capital, and conscientiously carry out the following foreign exchange administration tasks based on implementation of the spirit of the Session:
First, further facilitate foreign exchange collection and payments for various market entities, expedite the reform of the verification and writing-off system for foreign exchange collection and payments for imports and exports, and constantly improve foreign exchange administration for trade in services. Second, further intensify efforts to reform and innovate the mechanism for foreign exchange administration, continue to emphasize the expansion of channels for capital outflows, push forward the opening of the capital account in a prudent and orderly manner, steadily promote product innovation on the foreign exchange market, and provide enterprises with more risk-hedging instruments. Third, further improve supervision for foreign exchange administration, enhance efforts for system integration, improve the statistical and monitoring system for cross-border fund flows, further enhance statistics, monitoring, analysis, and early warning levels for cross-border fund flows and the balance of payments, expedite the construction of foreign exchange administration laws and regulations, further increase the transparency and public credibility of foreign exchange administration, strengthen the balanced administration of cross-border fund inflows and outflows, and continue to improve the contingency mechanism for the balance of payments. Fourth, persist in fulfilling the responsibilities for the construction of Party work style and clean administration, intensify efforts for education, supervision, reform, and system innovation, enhance education on clean administration and self-discipline of cadres, improve various systems for the construction of Party work style and clean administration, and establish and perfect the internal control mechanism for administrative power so as to constantly reach new achievements in the construction of Party work style and clean administration. (The End)
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