Statistics from 2016 show that the risks within China’s banking system are fully under control, according to Guo Shuqing, chairman of the China Banking Regulatory Commission, during a press conference held by the State Council Information Office on March 2.

According to Guo, the non-performing loan (NPL) ratio of commercial banks was 1.74 percent in 2016, up by 0.07 percent from the previous year. The net profit of Chinese commercial banks reached 1.65 trillion RMB, a year-on-year increase of 3.54 percent. Financial risk management has been significantly strengthened.