The central economic work conference clearly put forward the need to correctly understand and grasp, prevent and resolve major risks. However, in the process of preventing and resolving financial risks, there is still a lack of exit mechanisms such as bankruptcy reorganization system of financial institutions.
Bai Hexiang, deputy to the National People's Congress and President of Guangzhou Branch of the people's Bank of China, suggested that the relevant provisions on the bankruptcy reorganization of financial institutions should be improved in the revision of the enterprise bankruptcy law, and the legal means should be used to steadily resolve and prevent the disposal of financial risks.
He suggested that we should first choose a scientific and efficient legislative style and legislative model. A special chapter on "bankruptcy of financial institutions" is added to the enterprise bankruptcy law to make special provisions on its bankruptcy procedure and reorganization system according to the characteristics of financial institutions. Secondly, the effective guarantee mechanism of financial institutions should be established and implemented. For example, special provisions are made on the basic systems such as the subject of bankruptcy application and application conditions of financial institutions.
In formulating the bankruptcy reorganization system of financial institutions, he suggested that considering the characteristics of financial institutions, regulatory standards and liquidity standards should be set comprehensively. In addition, he also suggested that the relevant provisions on the way of reorganization and M & A should be clarified in the reorganization system, such as encouraging and guiding M & a through legislation.
Bai Hexiang also suggested strengthening the linkage and connection between reorganization procedures and supporting systems. On the one hand, we should strengthen the financing system support for debtors and strategic investors; On the other hand, we should support the reorganization of credit repair of financial institutions.
