在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

IMF warns of buildup in financial risks, calls for solutions

By Zhou Lanxu and Chen Jia | China Daily | Updated: 2019-10-18 09:00
Share
Share - WeChat
Pedestrians walk in front of the IMF building during the IMF and World Bank Fall Meetings on Tuesday in Washington, DC. [Photo/Agencies]

The International Monetary Fund has called for "urgent action" by policymakers to tackle rising financial vulnerabilities across the globe, as a loose monetary environment has magnified debt burden and encouraged riskier investments.

Over the past six months, while global central banks' shift toward a more dovish stance mitigated near-term downside concerns amid escalated trade disputes, it also "encouraged more financial risk-taking and a further buildup of financial vulnerabilities", the multilateral lending agency said in its latest Global Financial Stability Report.

The rising financial instabilities are "putting medium-term growth at risk", said the IMF report released on Wednesday.

"Policymakers need to take urgent action to mitigate financial stability risks," Tobias Adrian, director of the monetary and capital markets department at the IMF, said during the launch of the report.

Specifically, the IMF listed three key vulnerabilities in the global financial system - rising corporate debt burden, increasing holdings of riskier and more illiquid assets by institutional investors, and greater reliance on external borrowings by emerging and frontier market economies.

As a low-interest-rate environment compelled investors to make riskier investments, the share of debt owed by firms with weak debt repayment capacity has risen to a "sizable" level in several major economies, and could reach post-global financial crisis levels in the event of a material economic downturn, the IMF said.

The IMF urged global policymakers to deploy and develop macro prudential tools as warranted as well as to maintain stringent financial supervision.

"We welcome the efforts of the Chinese authorities to increase financial stability," said Vitor Gaspar, director of the IMF's fiscal affairs department.

In a number of areas, financial regulations have been tightening, and the authorities have made an effort to deleverage some parts of the financial system, including the shadow banking system, Gaspar said.

"We do continue to urge the (Chinese) authorities to continue with that path of tightening financial regulations," he said, adding that the shadow banking system is still of a large size, while vulnerabilities remain for small- and medium-sized banks and regional banks.

In May, the Chinese authorities took over Baoshang Bank Co Ltd, a Baotou-based medium-sized distressed commercial lender. This was followed by the restructuring of another two troubled regional banks, the Bank of Jinzhou Co Ltd and the Hengfeng Bank Co Ltd.

"Market expectation has stabilized after the authorities took different approaches to resolving the exposed risks of several small-and medium-sized banks," said Tang Jianwei, chief researcher at the Financial Research Center of the Bank of Communications.

"Risk situation of China's banking sector is overall under control. The spread between the funding costs of highly rated and weaker borrowers remained relatively high, but it should have very limited impact on the whole market," Tang said.

He added that Chinese monetary authorities' determination to avoid an extremely low-interest-rate environment will help contain debt levels and curb asset bubbles, setting the basis for long-term healthy economic development.

The People's Bank of China, the central bank, has not loosened its monetary stance significantly as some other major economies like the United States and the European Union did this year. The PBOC has pledged to not resort to any massive monetary stimulus to tackle downside pressure.

Ruan Jianhong, head of the PBOC's statistics and analysis department, told reporters on Tuesday that the leverage ratio of China's real economy has remained stable in the third quarter, with a possible very limited increment.

The IMF report also urged policymakers to resolve trade disputes and provide clarity on economic policies, which will rein in the main drivers of global downside risks.

In the October update of the World Economic Outlook, the IMF downgraded its projection of global growth to a decade-low of 3 percent for 2019.

Xinhua contributed to this story.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 区一区二区三在线观看 | 日韩精品一区二区三区老鸭窝 | 午夜精品久久久久久久久久蜜桃 | 国产精品免费视频一区 | 免费国产网站 | 国产精品一区二区三区免费 | 国产欧美在线观看 | 国产成人精品一区二三区四区五区 | 在线99视频| 五月婷婷在线播放 | 欧美极品在线 | www.91av在线| 网址你懂的在线观看 | 久久一二区 | 日韩国产欧美一区 | 欧美成人一区二区三区片免费 | 毛片在线视频 | 欧美日韩在线免费 | 欧美精品二区三区四区免费看视频 | 黄色欧美一级片 | 一级黄色片子看看 | 99re在线 | 狠狠av| 日韩大尺度在线观看 | 夜久久 | 国产精品免费av | 国产精品一区二区在线观看网站 | 99在线精品视频 | 欧美一级久久 | 欧美成人激情视频 | 日韩欧美一区二区三区免费观看 | 久久免费视频网 | 日韩精品一91爱爱 | 国产成人精品在线观看 | 免费看的av | 亚洲一区二区在线 | 99re免费视频精品全部 | 欧美精品一区在线 | 日韩不卡一区二区 | 91精品国产综合久久蜜臀 | 日韩精品一区二区三区中文字幕 |