CGTN photo
China's top banking regulator said on Monday it will place more priority on proactively reining in interbank market irregularities and leveraged investment.
The China Banking Regulatory Commission (CBRC) said in a statement that it will make planned and step-by-step efforts to tighten the regulation of interbank investment and financing, leveraged investment, and off-balance-sheet business.
Reforms of the banking sector will be accelerated to improve lenders' corporate governance and introduce private capital into the industry in an orderly way, the statement said.
The statement also detailed that the CBRC will work under the leadership of the new cabinet committee on financial stability and development, and strengthen coordination with other regulatory agencies and local governments.
The statement came after a two-day National Financial Work Conference that ended Saturday, which unveiled reform plans to improve the financial sector's capabilities to serve the real economy while guarding against systemic risks.
It was announced after the conference that a committee will be set up under the State Council to oversee financial stability and development.
The conference has convened every five years since 1997 and is widely considered to set the tone for financial reforms.
(Source: Xinhua)
Award-winning photos show poverty reduction achievements in NE China's Jilin province
People dance to greet advent of New Year in Ameiqituo Town, Guizhou
Fire brigade in Shanghai holds group wedding
Tourists enjoy ice sculptures in Datan Town, north China
Sunset scenery of Dayan Pagoda in Xi'an
Tourists have fun at scenic spot in Nanlong Town, NW China
Harbin attracts tourists by making best use of ice in winter
In pics: FIS Alpine Ski Women's World Cup Slalom
Black-necked cranes rest at reservoir in Lhunzhub County, Lhasa
China's FAST telescope will be available to foreign scientists in April
