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2 months ago
China's PBOC says shadow banking sector lacks sufficient regulation
July 4, 2017 / 11:19 AM / 2 months ago

China's PBOC says shadow banking sector lacks sufficient regulation

BEIJING, July 4 (Reuters) - China's central bank said on Tuesday the country's shadow banking sector lacks sufficient regulation and it would give more prominence to financial risk controls.

In a report on financial stability in 2017, the People's Bank of China (PBOC) said it will ensure the economy has no systemic financial risks.

It said the economy still faces relatively big downward pressures and it pledged to create a favourable monetary and financial environment for the development of the real economy this year. (Reporting by Beijing Monitoring Desk; Editing by Neil Fullick)

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