China to balance risk prevention, regulation, growth in 15th Five-Year Plan period

China will coordinate efforts to prevent risks, strengthen regulation and promote high-quality development during the 15th Five-Year Plan period (2026-2030), Cong Lin, deputy head of the National Financial Regulatory Administration, said at a press conference in Beijing on Wednesday.

Speaking at a series of pressers on the start of the 15th Five-Year Plan, Cong outlined priorities of the financial work in three areas.

"[On risk prevention,] the financial authorities will vigorously, systematically, and effectively resolve risks associated with local small and medium-sized financial institutions, and firmly hold the bottom line against systemic meltdowns. Efforts will focus on reducing the number and improving the quality of such institutions and optimizing their layout. A broader campaign against illegal financial activities will be deepened to protect people's savings," she said.

"On strengthening regulation, we will move faster to strengthen the legal framework for the financial sector, refine the categorized and tiered regulatory framework, and steadily push forward with differentiated regulation," Cong said.

"[On promoting high-quality development,] we will further step up support for major strategies, key areas and weak links, and boost financial backing for consumption, investment, business and job stability, as well as sci-tech innovation. Financing will be strengthened for major national strategies and security capacity-building in key areas, with priority given to key projects under the 15th Five-Year Plan. We will keep improving comprehensive financial services to help stabilize foreign trade," she added.

China to balance risk prevention, regulation, growth in 15th Five-Year Plan period

China opened 15 new international air cargo routes in September, adding 42 round-trip flights per week, the China Federation of Logistics and Purchasing (CFLP)’s air logistics division said on Sunday.

The newly launched routes included nine to Asia, four to Europe, and two to North America.

The cargo transported on the routes mainly included cross-border e-commerce goods, fresh food and agricultural products, electromechanical and electronic products, high-end manufactured goods, and consumer goods for daily use.

The flights are operated by nine airlines, eight of which are Chinese carriers.

According to CFLP’s air logistics division, China had opened a total of 130 new international air cargo routes as of September 30 this year, adding more than 334 round-trip flights per week.

China opens 15 new int'l air cargo routes in Sept