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 / Finance

Regulator calls for 'relentless' efforts to combat financial risks

By ZHOU LANXU | China Daily | Updated: 2021-06-11 09:23
Share
Share - WeChat
Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, speaks via video link at the 13th Lujiazui Forum 2021 in Shanghai. [Photo by CHEN MENGZE/FOR CHINA DAILY]

Top banking and insurance regulator called for "relentless" efforts to combat financial risks on Thursday, even though financial instability has subsided in many areas.

Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said the country should "remain alert to dangers in times of calm and make restless efforts" in financial risk prevention, with five areas including bad assets and shadow banking worth particular attention.

China will actively deal with a possible rally in nonperforming loans, as the country has allowed repayment deferral of loans lent to smaller businesses hit by the COVID-19 and certain amounts of them will turn into bad assets, Guo said via video link at the 13th Lujiazui Forum 2021 in Shanghai on Thursday.

Credit risks facing the banking system are on the rise due to property bubbles in some regions, debt repayment pressure of a number of government financing platforms and growing default risks of some large and medium-sized companies. The risk situation of some small and medium-sized financial institutions is more severe, Guo said.

Banks must categorize their assets and increase loan loss provisions, so that they can dispose of nonperforming assets at a faster pace, he said. By the end of March, China's outstanding nonperforming loans stood at 3.6 trillion yuan ($563.4 billion), up 118.3 billion yuan from the beginning of the year. The banking system's nonperforming loan ratio came in at 1.89 percent, down 0.02 percentage point from the beginning of the year, according to official data.

Guo also vowed more efforts to implement the new asset-management rules, which aim to eradicate principal-protected wealth management products and reduce investment in nonstandardized assets, to prevent any resurgence in shadow banking activities.

The scale of China's shadow banking sector has decreased by 20 trillion yuan compared with its peak, but the sector remains large and can easily rebound, he said.

Moreover, the commission will firmly crack down on illegal public offerings of securities, prevent risks related to financial derivative investment and remain alert to Ponzi schemes, a kind of investment fraud that promises high returns with minimal risk, which could be disguised as financial technology, Guo said.

He reiterated the country's determination to financial opening-up and strengthening financial support for the real economy and small businesses.

"The most prominent task now is to further boost the share of direct financing," he said. Stock and bond financing, the main body of direct financing, accounted for about 37 percent in total new social financing last year, but the future room for growth remains huge.

To boost direct financing, it is critical to make clearer to stakeholders that avoiding bond repayments intentionally is a legal breach and even a crime. In addition, it is necessary to accelerate registration-based reform with information disclosure at the core, Guo said.

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: 国产精品久久免费视频在线 | 日本不卡一 | 国产剧情一区二区 | 爱爱精品 | 黄视频国产 | 亚洲欧美一区二区三区在线 | 亚洲精品一二三四五区 | 在线免费精品视频 | 男女羞羞视频网站 | 国产一区二区三区免费 | 欧美精产国品一二三区 | 久久国内精品 | 欧美激情一区二区三区蜜桃视频 | 99久久久久国产精品免费 | 5060毛片| 成人亚洲黄色 | 在线成人| 中文字幕在线观看资源 | 99精品久久久久久 | 国产极品美女在线播放 | 日韩激情综合网 | 精品96久久久久久中文字幕无 | 亚洲电影一区二区三区 | 日韩一区二区精品葵司在线 | 免费一级片 | 欧美成人久久久免费播放 | 夜夜撸av | 久久资源av | 97视频在线免费观看 | 日韩成人三级 | 亚洲国产成人av | 亚洲精品乱码久久久久久不卡 | 福利视频一区 | 人人看人人插 | 久久99国产精品久久99大师 | 欧美视频在线免费看 | 亚洲高清在线观看 | www.免费看黄 | 欧美视频一区二区 | 狠狠操操 | 中文字幕精品一区二区三区精品 |