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August 29, 2018

CBIRC held a video conference on banking and insurance supervision. Topics discussed at the conference include "economic and financial work" conducted since the beginning of the year, analysis of the current situation, and the proposed key tasks for the near future.

The key tasks to be implemented in the near future include preventing and defusing financial risks; improving the differentiated real estate credit policy and resolutely curbing the real estate bubble; classifying and disposing of non-performing loans; and preventing and mitigating the hidden debt risks of local governments. The following are the other key highlights of discussion topics:

  • In-depth study of the three-year action plan for the prevention of financial risks in the banking and insurance industries.
  • Increase in investment in the real economy and further improvement in the economic level of the banking and insurance industry. As of the end of July, various loans of banking financial institutions increased by 12.4% year-on-year while insurance funds provided financing for the real economy over 13 trillion yuan.
  • Deepening of reform of the system and accelerating the implementation of new measures for the opening up of the banking and insurance industries. 

 

Related Link: Press Release

Keywords: Asia Pacific, China, Banking, Insurance, NPL, Resolve Financial Risks, Conference, CBIRC

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