Chinese Central Bank Says Financial Risk Has Softened, Remains Under Control Overall

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The People’s Bank of China (PBOC) says financial risk in China has weakened and remains under control, despite the turmoil created by the ongoing COVID-19 pandemic as well as military conflict in Ukraine.

PBOC’s recent 2022 Financial Stability Work Teleconference said that “financial risk has weakened overall, and remains controllable in general.”

“The financial stability system has made reference to the rich experience accumulated in the past, and continues to effectively perform normalisation of the prevention and control of financial risk,” said the PBOC meeting.

“[We] are continuing to drive the deepening of financial sector reform and appropriately dispose of risk in key sectors and regions.”