May 15, 2018 / 1:12 PM / a year ago

China is confident of fending off systemic risks in its financial industry: Xinhua

BEIJING (Reuters) - China, the world’s second largest economy, is capable of effectively fending off systemic risks and promoting healthy development in the overall financial sector, the official Xinhua news agency quoted Vice Premier Liu He as saying on Tuesday.

Liu made the comments during a special conference focusing on China’s financial development, which was held by the Chinese People’s Political Consultative Conference that advises China’s parliament, Xinhua said.

Liu said China aimed to effectively achieve a combination of maintaining stable and neutral monetary policy, and implementing strict supervision policies, Xinhua said.

China’s official data suggests economic growth has been remarkably steady at 6.8-6.9 percent over the past year, though

analysts caution of possible trade shocks and its high debt levels.

Reporting by Zhang Min in BEIJING and Lee Chyen Yee in SINGAPORE; Editing by Alison Williams

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