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szdaily -> Business -> 
Regulator: financial risks ‘fully controllable’
    2018-10-23  08:53    Shenzhen Daily

THE country’s systemic financial risks are “fully controllable,” the China Securities Journal newspaper reported yesterday, quoting the head of the country’s banking and insurance regulator.

The comments, which ran on the front page of the newspaper, echoed similar points made by the regulator Friday.

Separately, the State Council said Sunday the country must balance the need for stable growth while managing financial risks following a meeting of top economic and financial policymakers.

The China Banking and Insurance Regulatory Commission (CBIRC) said Friday that it had asked financial institutions to properly manage risks related to listed firms’ financing activities via stock pledging.

It added insurers would be encouraged to invest in listed firms and allowed to set up products to address liquidity issues related to listed firms’ stock pledging.

The CBIRC has also told rural commercial banks to expedite the disposal of bad loans as part of the country’s intensifying efforts to fend off financial risks.

The regulator requested the banks to strictly follow loan classification rules to not hide bad loans.

At least 13 lenders, including 10 rural commercial banks, have had their credit ratings cut or outlooks downgraded to negative since the start of 2017.(SD-Agencies)

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