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PBOC to play bigger role in managing financial risks: Xi Jinping

Chinese president commented at a once-in-five-years govt work conference that ended on Saturday

Stella Qiu & Adam Jourdan | Reuters  |  Beijing 

China's central bank will take on a bigger role in the macro-prudential management and in averting systemic risk in the financial system, President Xi Jinping said at a once-in-five-years government work conference that ended on Saturday. Financial security is a vital part of national security, Xi said at the fifth National Financial Work Conference, adding that China will strengthen the Communist Party's leadership in the financial sector. A Financial Stability and Development Committee will also be set up under the State Council, or cabinet, state media cited Xi as ...

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First Published: Mon, July 17 2017. 02:38 IST