to manufacturing and high - tech industries and private enterprises 3 / 4 bis central bankers'speeches rebounded significantly, relieving the difficulties that smbs face in accessing affordable financing. by end - may, inclusive financial loans issued by the five major banks to smbs grew 23. 7 % compared to the end of last year, fulfilling the majority of their full - year plan. the average interest rate was 4. 79 %, reporting a decline of 0. 65 percentage point compared to the full year rate for last year. meanwhile, the banking and insurance sectors have been fully cooperating with local governments on the issuance of general bonds and special bonds, earnestly implementing decisions and plans made by the state to provide financing support for projects launched to bolster weak spots in infrastructure construction. we believe that, through the deepening supplyside structural reform to expand effective domestic demand, the effects of various impediments will be offset for certain. the chinese economy and financial sector is surely to achieve sustained, healthy, and steady growth! these ideas are only presented for your reference. to conclude, i wish this forum a complete success. thank you! 4 / 4 bis central bankers'speeches

yi gang : speech – conference on g - sifis of financial street forum speech by mr yi gang, governor of the people's bank of china, at the conference on global systemically important financial institutions of financial street forum 2021, 21 october 2021. * * * honorable mayor chen jining, colleagues and friends : good evening. it is a great pleasure to attend this year ’ s conference on global systemically important financial institutions. as systemically important financial institutions ( sifis ) are big, complex and interconnected with other financial institutions, and provide crucial financial services, they have a significant influence on the stable and efficient operations of the financial system as a whole. sifis are divided into two groups : global systemically important financial institutions ( g - sifis ) and domestic systemically important financial institutions ( d - sifis ). the former is identified by international organizations and the latter by domestic regulators. in the wake of the 2008 global financial crisis, to promote financial stability and prevent financial risks, the financial stability board ( fsb ) began to release the list of global systemically important banks ( g - sibs ) starting from 2011 and the list of global systemically important insurers ( g - siis ) starting from 2013 with higher regulatory requirements. currently, there are 30 g - sibs and 9 gsiis, including industrial and commercial bank of china ( icbc ), agricultural bank of china ( abc ), bank of china ( boc ), china construction bank ( ccb ) and ping an insurance group. in the meantime, major economies have also enhanced the regulation of their d - sifis. china has attached great importance to the regulation of sifis. in 2018, theguidelines on improving regulation of sifiswas issued, establishing the overall institutional framework in this regard. recently, the people ’ s bank of china ( pbc ) and the china banking and insurance regulatory commission ( cbirc ) announced the list of 19 domestic systemically important banks ( d - sibs ) and clarified additional regulatory requirements. among the 19 banks, six are state - owned commercial banks, nine are joint - stock banks and four are urban commercial banks. despite the limited number, the sum of their total assets accounts for 60 percent of the total assets of china ’ s banking industry. the identification of sifis and improvement in relevant regulatory systems can help us concentrate on crucial matters to better promote the overall stability of the financial