Financial system is the basic system of economic and social development. Under the modern credit currency system, a good financial system and central bank supervision can optimize the allocation of resources, improve efficiency and achieve healthy economic development. The reform of financial system needs to build a modern central bank system, improve the regulation mechanism of money supply, and improve the formation and transmission mechanism of market-oriented interest rates.
Establish a modern central banking system. The modern central bank system is the sum of modern monetary policy framework, financial infrastructure service system, systematic financial risk prevention and control system and international financial coordination and cooperation governance mechanism. The goal of building a modern central bank system is to establish a central bank system and mechanism that is conducive to achieving four major tasks: monetary stability, full employment, financial stability and balance of payments.
The interest rate marketization system and the base money delivery mechanism are facing long-term reforms. On the one hand, China's monetary policy regulation is highly dependent on quantitative monetary policy tools, and it is of great significance to improve the base money delivery mechanism. On the other hand, modern central banks pay more attention to price-based monetary policy tools. Comply with the changing trend of the digital age in the world, develop multi-level capital markets, and better play the role of direct financing.