Watchdog: Monetary banking and insurance coverage dangers underneath management | Firm | China Each day – Gooruf.com
Article taken from: s.chinadailyhk.com
Watchdog: Monetary banking and insurance coverage dangers contained By Xinhua Tuesday, March 02, 2021, 11:00 p.m. By Xinhua (From 2nd left to proper) Gu Shu, chairman of the Agricultural Financial institution of China, Guo Shuqing, chairman of China Banking Regulation and Insurance coverage Fee, Zhao Huan, chairman of China Growth Financial institution, Luo Xi, chairman of Individuals’s Insurance coverage Company of China, Tune Shuguang, chairman of China Export and Credit score Insurance coverage Company, attend a press convention in Beijing, March 2 2021. PHOTO / BEIJING – China has made “decisive progress” in stopping and combating monetary dangers in its banking and insurance coverage sectors, the main banking and insurance coverage regulator stated on Tuesday. from the nation. READ MORE: PBOC: Management of systemic monetary danger is a precedence China has additionally made progress in coping with its NPLs, totaling 8.8 trillion yuan (roughly US $ 1.36 trillion) of those loans processed over the previous 4 years, Guo Shuqing, chairman of the China Banking and Insurance coverage Regulatory Fee To forestall monetary dangers, the nation has given precedence to deleveraging its monetary sectors, with an inclination to “develop blind “basically reversed monetary property, stated Guo Shuqing, chairman of China Banking and Insurance coverage Regulatory Fee (CBIRC), at a press convention. […] Development charges are about half of the degrees from 2009 to 2016, in accordance with CBIRC knowledge. China has additionally made progress in processing its nonperforming loans, with a complete of 8.8 trillion yuan (about US $ 1.36 trillion) of such loans processed over the previous 4 years, Guo famous.