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China should reform banks to prevent risks: central bank

(Xinhua)

08:04, February 17, 2012

BEIJING, Feb. 16 (Xinhua) -- China should deepen the reform of its large commercial banks and policy financial institutions this year, in the wake of an increasingly complex external and internal environment, the country's central bank said Thursday.

The People's Bank of China said in an online statement that it will further strengthen these banks' daily financial risk monitoring, their soundness appraisals and their reporting upon financial emergencies, in an effort to prevent systematic and regional financial risks.

According to the statement, supervision over local financial institutions, non-banking financial institutions and private financing will also be strengthened in 2012.

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