Fi­nan­cial mar­kets face con­trols on risks

China Daily (Canada) - - NEWS CAPSULE -

China has shifted the fo­cus of its fi­nan­cial pol­icy to­ward con­trol­ling risks, un­der­scor­ing the de­sire of the na­tion’s pol­i­cy­mak­ers to con­tain sys­temic risks and en­sure fi­nanc­ing for real eco­nomic ac­tiv­i­ties, such as pro­vid­ing goods and ser­vices.

In the Gov­ern­ment Work Re­port, de­liv­ered to the Na­tional Peo­ple’s Con­gress, the coun­try’s top leg­isla­tive body, Premier Li Ke­qiang warned about the ac­cu­mu­la­tion of risks in ar­eas such as non­per­form­ing loans, bond de­faults, shadow bank­ing and in­ter­net fi­nance.

While the over­all risks are con­trol­lable, the premier vowed the gov­ern­ment will be vig­i­lant to­ward fi­nan­cial risks and will build a “strong fire­wall” against them.

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