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China Financial Industry Stable and Safe from Systemic Risks: PBOC

CHINA PRESS
MNI (Singapore)

China’s top financial regulator said it will take precise measures to firmly guard against systemic risks, even as the foundation of the country’s financial system remains stable, according to an article by the Financial Stability Bureau published on the social media account of the People’s Bank of China. Banking assets account for over 90% of China's total financial assets, with only 316 out of 4398 banks considered high risks in Q4 2021, the article said. The figure had dropped from a peak of 649 in Q3 2019 for six quarters, and is expected to decrease to less than 200 by the end of 2025, the article said.

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