BUSINESS China's central bank stresses defusing financial risks in 2022

BUSINESS

China's central bank stresses defusing financial risks in 2022

Xinhua

22:05, April 01, 2022

BEIJING, April 1 (Xinhua) -- China will strengthen efforts to prevent and defuse financial risks to stabilize the financial market in 2022, according to the central bank.

File photo: Agencies

The People's Bank of China will enact concrete measures to guard against and address financial risks in accordance with the fundamental principles of maintaining overall stability, the bank said during a recent video conference on stabilizing the financial market in 2022.

The bank pledged more efforts to establish a market-oriented, law-based and normal risk-disposal mechanism in a bid to buttress the financial safety net and forestall systemic financial risks.

China will make stronger efforts to give early warning of risks, enhance risk prevention and control mechanisms, and build capacities for responding to risks, according to this year's government report.

A fund for ensuring financial stability will be established, and the deposit insurance system and industry guarantee funds will be brought fully into play, said the report.


Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue