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Risks of banks, insurance institutions controllable

Updated: Jan 14,2020 09:07 AM    Xinhua

BEIJING — The risks of China's banking and insurance institutions were generally manageable, said an official with the China Banking and Insurance Regulatory Commission (CBIRC) at a press conference on Jan 13.

"All operational and regulatory indicators are within a reasonable range," said Xiao Yuanqi, Chief Risk Officer with CBIRC.

Xiao said some specific small and medium-sized institutions did have high risks, and some risks were exposing.

The CBIRC has always been vigilant and conducted inspections of these institutions, said Xiao, adding that it has launched list system management to defuse the risks.

Efforts have been made including urging the institutions with high-level of risks to dispose of non-performing loans, and strictly screening their new loans.

In addition to conventional means, the CBIRC will also take such measures as introducing new strategic investors, and promoting merging and restructuring through market-oriented and legal means, said Xiao.

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