BEIJING, July 9 (Xinhua) -- China’s banking industry is under steady operation, with risks controllable, said Zhou Liang, vice chairman of the China Banking and Insurance Regulatory Commission, at the China Wealth Forum on July 7.
“By May 2018, total assets of China’s banking industry had amounted to 250 trillion yuan, with capital adequacy rate and provision coverage standing at 13.6 percent and 178 percent respectively. On the whole, the banking industry is becoming more and more mature, which has laid a solid foundation for future development,” noted Zhou.
Zhou highlighted that China’s banking industry should better serve the real economy so as to achieve high-quality development. In the next phase, the regulator will maintain the balance between financial risk prevention and enterprise transformation promotion, and improve services by making full use of fintech. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)
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