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Risk prevention in China's banking sector to be a 2017 focus - new regulator
March 2, 2017 / 2:27 AM / 9 months ago

Risk prevention in China's banking sector to be a 2017 focus - new regulator

BEIJING, March 2 (Reuters) - China’s newly appointed banking regulator said on Thursday that risk prevention in the sector will be a more prominent policy focus in 2017.

Guo Shuqing, chairman of the China Banking Regulatory Commission (CBRC), also said more than 430 billion yuan ($62.5 billion) of debt-to-equity swap deals had been signed as of early February.

The remarks by Guo, regarded as one of China’s most experienced financial services professionals, were his first since getting appointed last week.

He was speaking ahead of the opening of the annual meeting of China’s parliament on March 5.

$1 = 6.8840 Chinese yuan Reporting by Matt Miller and Shu Zhang; Editing by Richard Borsuk

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