Vice-Premier Liu He chaired a conference on preventing and addressing financial risks on Aug 24.

According to a statement from the conference, overall risks in peer-to-peer lending (P2P) industry and stock pledges of listed companies are controllable.

In the next move, the duties of central, local governments and different departments should be clarified in tackling P2P risks, the statement said.

Targeted measures should be issued to deal with different situations regarding P2P platforms and risks.

Standards should be set up to build a long-term regulation system in online finance.

The statement said that market mechanism should be given full play in defusing stock pledge risks of listed companies.

Local governments and regulators should create a sound market environment and help market entities eliminate stock pledge risks.

Efforts should be made to stabilize market expectations and the financial market, the statement said.

The conference also urged studies on rule of law in the capital market, and stressed measures to reform the stock issuance system, improve listed companies’ quality, optimize a multi-layer capital market, and expand long-term stable fund sources.