High marks for financial industry
Source: Xinhua |
July 3, 2012, Tuesday
|
Print Edition
Print Edition
DESPITE complex domestic and global economic conditions, China's financial system was stable in 2011, with improving risk-aversion capability and deepening reforms, according to a central bank report released yesterday.
The fiscal strength of the government, enterprises and individual households remained healthy, and financial infrastructure continued to be steadily built last year, the People's Bank of China said in the 2012 financial stability report.
Stress test results showed that 17 key commercial banks were capable of withstanding macro-economic shocks.
The banks' capital reserves were adequate, but with slowing deposit growth, the liquidity pressure rose. Although risks in a few areas needed attention, the banking system was healthy overall, the report noted.
This year the PBOC will continue to implement the prudent monetary policy, keep social financing at a reasonable scale, and increase support to the real economy. It will further deepen the reform of the market-based interest and exchange rates.
The fiscal strength of the government, enterprises and individual households remained healthy, and financial infrastructure continued to be steadily built last year, the People's Bank of China said in the 2012 financial stability report.
Stress test results showed that 17 key commercial banks were capable of withstanding macro-economic shocks.
The banks' capital reserves were adequate, but with slowing deposit growth, the liquidity pressure rose. Although risks in a few areas needed attention, the banking system was healthy overall, the report noted.
This year the PBOC will continue to implement the prudent monetary policy, keep social financing at a reasonable scale, and increase support to the real economy. It will further deepen the reform of the market-based interest and exchange rates.
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