The State Financial Regulatory Commission: Vigorously crack down on practices such as price wars, illegal rebates, and "high interest and high returns."
The State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan" at 3:00 p.m. on Thursday, September 10, 2026. Lu Lei, Vice Governor of the People's Bank of China, Cong Lin, Vice Director of the State Financial Regulatory Commission, Li Chao, Vice Chairman of the China Securities Regulatory Commission, and Li Bin, Spokesperson and Deputy Director of the State Administration of Foreign Exchange, introduced the implementation of the 15th Five-Year Plan in the financial sector and the promotion of the construction of a financial power, and answered questions from reporters.
According to Xinhua News Agency, Cong Lin, Deputy Director of the State Financial Regulatory Commission, stated at a press conference that during the 15th Five-Year Plan period, efforts will be made to comprehensively advance risk prevention, strengthen regulation, and promote high-quality development. This includes steadily advancing risk prevention and control in key areas ; effectively and orderly preventing and resolving risks in local small and medium-sized financial institutions, firmly upholding the bottom line of preventing defaults; comprehensively strengthening the "five major regulatory areas," ensuring they are "teeth-free" and have clear boundaries; and encouraging financial institutions to comprehensively address the "five major tasks," further strengthening service and support for major strategies, key areas, and weak links.
During the 15th Five-Year Plan period, the State Financial Regulatory Commission will further strengthen its service and support for major strategies, key areas and weak links in promoting high-quality development, increase financial support for promoting consumption, expanding investment, stabilizing enterprises, stabilizing employment and technological innovation, and strengthen financing for "two major" and "two new" sectors.
According to Xinhua News Agency, Cong Lin, Deputy Director of the State Financial Regulatory Commission, stated that multiple measures will be taken to create a healthy industry ecosystem. This includes guiding financial institutions to establish correct views on performance, business operations, results, and risk, resolutely abandoning their obsession with scale, and promoting a shift from pursuing speed and scale to focusing on quality and efficiency, thereby continuously enhancing their core competitiveness. The Commission will also vigorously rectify practices such as price wars, illegal rebates, and "high interest, high rebates."
He also stated that the regulatory role will be fully leveraged to guide financial institutions, accelerate their reform and transformation, and continuously enhance their intrinsic driving force and vitality for development. Key tasks include optimizing the financial institution system through differentiated policies and solidly advancing the reform and risk mitigation of local small and medium-sized financial institutions.
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