First, further promote the reform and development of the banking industry. Insist on examining banking supervision from the perspective of reform and development, seriously study and solve various problems affecting banking reform and development, strengthen classified supervision of various banking financial institutions during the reform period, and further play the leading and promoting role of supervision in banking reform and development. Strengthen supervision and evaluation, deepen the institutional reform of large banks, accelerate the strategic transformation process of China's commercial banks, focus on urging large banks to improve corporate governance and strengthen internal control, optimize business and management processes, improve internal operation efficiency and effectiveness of internal control, and narrow the gap with international advanced banks. Promote qualified commercial banks to implement the strategic business division system, realize the transformation from "departmental banks" to "process banks" with customers as the center, further improve risk management technologies and means, and enhance risk pricing and risk management capabilities. Accelerate the informatization construction, build an information system covering all business fields, strengthen the management and control of information technology risks, and create a good platform for business development. Further study the reform of rural financial system, further promote the reform of policy banks, postal savings institutions and rural credit cooperatives, and give full play to the due role of various banking financial institutions in building a harmonious society. The second is to further promote the opening up of the banking industry. In order to adapt to the new situation of all-round opening up, the newly adopted Regulations on the Administration of Foreign Banks fully embodies the principles of fully fulfilling commitments, opening to the outside world according to law, encouraging fair competition, strengthening prudent supervision and maintaining the stability of the financial system. We will open RMB business to foreign banks according to our commitment, and implement national treatment for foreign banks on the basis of our commitment. The third is to further promote the construction of banking regulatory laws and regulations. The construction of regulatory laws and regulations is the basis of promoting effective banking supervision, and it is also the requirement of governing the country according to law and administration according to law. In the period of China's banking and economic and social reform and transformation, it is particularly urgent to strengthen the construction of regulatory laws and regulations. In the previous stage, the CBRC sorted out more than 500 existing banking supervision documents, and comprehensively cleaned up laws and regulations by means of up-and-down linkage to ensure that China's banking supervision rules are in line with international practices. In the next step, the CBRC will focus on the systematic, forward-looking and effective construction of regulatory laws and regulations, focusing on the credit risk, market risk, operational risk and information technology risk faced by the banking industry, formulating scientific legislative plans, and strengthening the updating and improvement of regulatory laws and regulations. At the same time, it will timely summarize the impact and lessons of the new Basel Capital Accord, International Accounting Standards No.32 and No.39 and Sarbanes-Oxley Act of the United States on the development and supervision of the banking industry. Absorb and draw lessons from the effective practices of international banking supervision, and comprehensively establish a sound and easy-to-operate legal system for prudential supervision of the banking industry, which is in line with national conditions and international supervision trends. Fourth, further promote the capacity building of bank supervision. Combined with the new progress and experience of international banking supervision, we will conduct in-depth research on major issues of China's banking development and supervision, and strengthen the linkage and cooperation between regulatory reform measures and the external environment. According to the risk rating and early warning results of banking financial institutions, we will implement classified supervision, effectively use regulatory resources, implement scientific supervision, conscientiously implement medium-and long-term plans to improve the effectiveness of banking supervision, make full use of regulatory information systems, and constantly improve risk supervision methods, processes and means to improve the professional level of off-site supervision and the accuracy, pertinence and effectiveness of on-site inspections. Continue to deepen capital supervision, study and formulate regulatory policies, guidelines and measures for the implementation of the New Capital Accord, guide banking financial institutions to implement internal rating projects, and build a risk management system that meets the requirements of the New Capital Accord. Finally, further promote the pace of banking innovation. Under the premise of controllable risks, accelerating the innovative development of the banking industry is an inevitable path to improve the overall competitiveness of China's banking industry. The CBRC encourages and supports banking financial institutions to accelerate the pace of financial innovation by combining their own risk preferences and risk management and control capabilities. By improving the financial innovation mechanism with banking financial institutions as the main body, market demand as the guide, and the combination of introduction and autonomy, we will guide the banking industry to improve credit services for agriculture, rural areas and farmers, high-tech and small enterprises, and promote the coordinated development of financial innovation and risk management, and the bank's own benefits and social benefits. On the premise of effective supervision and the establishment of firewall system, the CBRC will also allow commercial banks to carry out cross-industry pilot operation in the mode of holding company, encourage commercial banks to carry out comprehensive consumer financial services, steadily promote cross-business, joint venture and equity investment, actively promote the securitization of credit assets, gradually develop financial derivatives to avoid credit and market risks, and comprehensively promote the construction of China's dynamic and internationally competitive banking system.