HEADLINE China regulator lists 10 tasks to rein in financial risks in 2018

HEADLINE

China regulator lists 10 tasks to rein in financial risks in 2018

By ​Ouyang Jie | People's Daily app

22:32, January 26, 2018

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Photo: IC

The banking sector will step up efforts to rein in systemic financial risks in 2018, focusing on 10 tasks, a statement of the China Banking Regulatory Commission (CBRC) said Friday.

The statement followed the conclusion of CBRC's national banking supervision and management meeting, which outlines the year's key goals.

The CBRC said that,the tasks aim to control overall risks in banking sector, including reducing enterprises' debt ratio, restraining the leveraging rates of residents, and reducing interbank investment and financing, as well as strictly controlling cross-financial sector products,.

High-risk institutions will be managed with a list system, with contingency plans, so as to rein in the risks case by case. Other tasks include curbing real estate bubbles and rectifying hidden debt,according the statement.

China will step up oversight of the banking sector this year to reduce financial risks, the CBRC said, stressing that long-term efforts would be needed to control banking sector chaos.

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