China will strive to fend off financial risks, central bank says

FILE PHOTO: Headquarters of the PBOC, the central bank, is pictured in Beijing
FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

September 3, 2021

BEIJING (Reuters) – China’s will strive to fend off financial risks by shoring up its risk prevention, pre-warning and disposal systems, the central bank said on Friday.

China will push forward reforms of small- and medium-sized financial institutions to help resolve risks, the People’s Bank of China said in its 2021 financial stability report.

China will maintain stable operation of its stock, bond and foreign exchange markets and prevent external shocks, the central bank said. It reiterated a pledge to make monetary policy flexible, targeted and appropriate.

(Reporting by Kevin Yao and Beijing newsroom; Editing by Edmund Blair)