Guo Shuqing, chairman of the Bank of China Insurance Regulatory Commission, pointed out at the 10th Lujiazui Forum on June 14th that China's current financial problems are of great particularity. This particularity determines that the contradictions we are facing are more complex. We must deal with all kinds of hidden dangers with a more positive attitude. On the whole, we should correct all kinds of deviations and restore the economic and financial balance as soon as possible in advance rather than afterwards, in an active rather than passive manner, and in a holistic rather than piecemeal manner.To prevent and resolve systemic financial risks is the mission and responsibility of supervision. The level and ability of modern national governance and the construction of modern financial system blend with each other. Financial security and control are the decisive forces in all economic and international relations. The essence of modern financial development history is a history of financial crisis. At the same time, it is also a history in which the regulatory authorities constantly improve and strengthen supervision, and play games with the stakeholders who seek regulatory arbitrage in the market. Finance is not only a tool of wealth management, but also a means of modern national governance, and also the key to modern national governance.We should be deeply aware that financial competition is a war without smoke in the development and competition of contemporary countries and an eternal game of great powers' economies. To build modern national governance, we must make full use of financial instruments, keep a firm grip on financial security, and keep to the bottom line that systemic risks will not occur.
