Second, efforts will be made to further improve corporate governance of the financial institutions and strengthen internal control system. We will promote financial institutions' ownership structure reform, establish incentives for the financial institutions to introduce strategic investors, board of directors, management and market participants and put in place risk management system and internal control system. Third, financial innovation will be fostered.
Financial institutions should enhance their financial innovation and strengthen their pricing capability. Commercial banks need to pay attention to developing their fee-based business; securities companies need to develop seller's business; insurance companies need to diversify investment channels and cultivate sustainable growth model. Supervisory authorities need to provide policy to support financial innovation. (3) Optimize financing structure and improve capital markets.