China central bank to add WMPs to banks' risk monitoring checklist

Updated 2016-12-20 11:03:55 Xinhua

China's central bank will tighten supervision of shadow banking by including wealth management products (WMPs) into its risk monitoring system next year.

The People's Bank of China on Monday confirmed media reports that it would add WMPs to its checklist for financial institutions under the macro prudential assessment (MPA) framework in the first quarter of 2017.

The MPA currently covers loans and other assets including investment on bonds and equities.

China's fast expanding wealth management industry is considered a source of risk, as off-balance sheet WMPs channel deposits into risky investments without enough regulation.

The government will put more emphasis on controlling financial risks in 2017, according to the Central Economic Work Conference, a key economic meeting held last week.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58November 20 2017 00:09:40

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16November 20 2017 00:09:40

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18November 20 2017 00:09:40

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords