China's top banking regulator to enhance risk control

Updated 2017-07-30 09:25:13 Xinhua

China's top banking regulator will increase efforts to prevent and control risks in the banking sector.

The country's banking sector's risks are generally manageable but more measures should be taken to deal with risks brought by cross-market and cross-sector products and other emerging businesses, according to a statement released after the mid-year work meeting of the China Banking Regulatory Commission (CBRC).

The CBRC will promote inclusive finance to play a bigger role in supporting economic growth and guide banks to reduce unnecessary charges worth over 44 billion yuan (6.5 billion U.S. dollars) for their customers.

New measures will be taken to guard against risks such as keeping close supervision on highly risky institutions and strengthening internal management and risk control.

The CBRC will also introduce private investment in the banking sector in an orderly manner and keep opening up the industry.

A total of 18 new or amended regulation frameworks are expected to be rolled out this year to fill in regulation gaps, according to the statement.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58December 16 2017 18:56:34

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 12:16December 16 2017 18:56:34

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18December 16 2017 18:56:34

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