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China's President Xi Jinping presided over a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee to discuss trial provisions concerning accountability for failing to prevent or defuse financial risks. The meeting emphasized the importance of preventing and defusing financial risks, stating that it is related to national security, overall development, and the security of people's property. The trial provisions for accountability are aimed at urging officials at all levels to establish a correct view of performance and better carry out various tasks of comprehensively strengthening financial supervision, preventing and defusing financial risks, and promoting high-quality financial development. The meeting further underscored the top Chinese leadership's focus on tackling financial risks and promoting high-quality development in the financial industry. It is expected that greater policy measures and reforms will be taken in the future, and preventing and defusing financial risks and deepening financial reforms are also expected to be on the agenda for the third plenary session of the 20th CPC Central Committee. China's financial industry has great potential to become a global leader, with the real economy providing a solid foundation for high-quality development in the financial industry. Additionally, China is moving steadily to further open up its financial markets to foreign businesses.
