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PBOC Sets Up Financial Stability Fund

MNI (Singapore)

The People’s Bank of China has initially funded and established the basic framework for a Financial Stability Guarantee Fund, which will be used for the disposal of major financial risks, according to an article by the PBOC’s Financial Stability Bureau published on its social media account. The PBOC continues to work on resolving risks at key enterprises and financial institutions. It said China's financial risks have become more controlled after three years of focus on urgent risks, the article said. By the end of 2021, 98.9% of the banking industry's total assets were rated within the Bank's safety boundary.

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