On October 24, the Financial Commission of the CPC Sichuan Provincial Committee held its first plenary (enlarged) session in Chengdu. Shi Xiaolin, Deputy Secretary of the CPC Sichuan Provincial Committee and Governor of the People's Government of Sichuan Province, attended and addressed the session. She emphasized the need to thoroughly study and implement General Secretary Xi Jinping's important statements on financial work, earnestly implement the guiding principles from the Central Financial Work Conference and the meeting of the Political Bureau of the CPC Central Committee held on September 26, as well as the arrangements and requirements set by the provincial Party committee, pursue and achieve progress while ensuring stability, coordinate the efforts in risk prevention, strengthening supervision, and promoting development, enhance the quality and effectiveness of financial services in supporting the real economy, and foster Sichuan's financial sector's high-quality development, so as to provide robust financial backing for stabilizing economic growth and nurturing new development drivers.

Shi Xiaolin underscored the necessity for expedited efforts to establish a province with a robust financial sector and to develop the Western Financial Center. Efforts should be focused on improving the financial institution system, market structure, and talent pool, attracting additional regional centers and functional units of national financial institutions to establish themselves in Sichuan, thereby reinforcing and elevating the status of local financial enterprises. Efforts should be made to fully leverage the capabilities of the Western (Southwestern) bases of the Shanghai, Shenzhen, and Beijing stock exchanges, providing support to companies in issuing innovative financial instruments, such as sci-tech bonds and rural-vitalization-themed financial bonds. Efforts should be concentrated on the high-quality development of regional markets, including the equity and property rights markets, actively recruiting and cultivating experts in areas such as venture capital, TechFin, and fund management, facilitating the efficient circulation, concentration, and optimal distribution of a variety of resource elements, thereby elevating the energy level of financial growth. There is a need to expand the provisions of premium financial offerings to provide more robust support to the real economy. We need to effectively align with the national package of incremental policies, including cutting required reserve ratios and interest rates, support for the real estate sector, and trials of equity investments by asset investment companies, and ensure the timely transmission of these substantial financial benefits to the market participants. We need to enhance financial backing for our six advantageous industries and 15 key industrial chains, execute a strategy for nurturing corporate listings, and harness the potential of platforms such as the Sichuan Digintelligence and Green Development Promotion Center and the "Sci-Tech Innovation Island + Sci-Tech Innovation Access" initiative, give play to the role of the government industrial investment guidance fund, cultivate and expand patient capital, and thus unlock additional financial resources for sci-tech innovation and industrial advancement. We need to expand the provision of agricultural loans, with a focus on areas such as deep and refined processing, modern warehousing, and cold chain logistics, harness the power of big data to generate accurate profiles of enterprises and enhance their creditworthiness, and improve the accessibility of financing for small and micro enterprises. There is a need to bolster financial regulation across the board, achieving "full coverage and no exceptions". It is necessary to maintain regulation over legitimate and unauthorized activities, ensure that industry oversight encompasses risk management, enhance supervision of institutions, behaviors, and functions, strengthen penetrating and consistent regulatory measures, and engage in thorough standardization and rectification of local financial entities. It is necessary to further harness the power of science and technology, ensure robust data monitoring and analysis, refine the local financial law enforcement framework, and continually elevate the competence of financial regulation. There is a need to prevent and defuse risks in key areas and hold the bottom lines in financial security. We should prioritize prevention and effective resolution strategies, integrate control and relief measures with comprehensive approaches, work to prevent and defuse risks in areas such as small and medium-sized financial institutions, local government debt, and the real estate market, and concentrate efforts on key fields such as elderly care, agriculture, and education, solidly carry out special actions against illegal fundraising, manage existing risks in an orderly manner, and firmly contain incremental risks. We should utilize the financial commission mechanism effectively, further strengthen collaboration between central and local authorities and across various departments, expedite the formulation of a task list for financial services supporting the real economy, financial risks prevention and resolution, and other work, mobilize the initiative of all stakeholders, foster a positive financial ecosystem, drive high-quality financial development, and expedite the building of the Western Financial Center.

Dong Weimin, Member of the Standing Committee of the CPC Sichuan Provincial Committee and Executive Vice Governor of the People's Government of Sichuan Province, presided over the session. During the session, attendees reviewed and approved relevant documents. The Office of the Financial Commission of the provincial Party committee, the Sichuan Provincial Administration of Local Finance Supervision, the Sichuan Provincial Branch of the People's Bank of China, the Sichuan Securities Regulatory Bureau, and the Provincial Department of Finance presented updates on their work. Members of the Financial Commission of the provincial Party committee and leading officials from relevant provincial departments, among others, participated in the session.