BEIJING, April 24 (Xinhua) -- Chinese banking regulator is making efforts to deepen reform and risk mitigation of small- and medium-sized banks, said Cao Yu, vice chairman of China Banking and Insurance Regulatory Commission (CBIRC).
Cao made the remarks on a press conference of the State Council Information Office held on Wednesday, saying that small- and medium-sized banks bore the obvious brunt of the ongoing epidemic due to their limited strengths in management and operation, especially particularities of their client groups.
By far, related plans have been mapped out by relevant policymakers and the work is progressing smoothly, noted Cao.
This year, great efforts are foreseeable on advancing reform and restructuring of small- and medium-sized banks, in particular measures on propelling market oriented restructuring of them, Cao said.
Recently, lots of preferential treatments have been provided for small- and medium-sized banks, such as those on relending and targeted required reserve ratio (RRR) cut and CBIRC will also implement differentiated supervision policies for them, all of which benefit their reform and restructuring, Cao added. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
A single purchase
