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China central bank to be more active in fending off financial risks, governor says

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Reuters BEIJING
Last Updated : Dec 11 2017 | 4:55 PM IST

BEIJING (Reuters) - China's central bank will be more active in deploying macroeconomic controls and fending off financial risks, its governor, Zhou Xiaochuan, said on Monday.

"Efforts should be made to enhance the initiative and relevance of macro-controls and prevention of financial risks," Zhou said in comments published on the website of the People's Bank of China (PBOC).

Zhou made the remarks at a central bank meeting on the implementation of agendas laid out by a key Communist Party Congress in October.

Zhou also pledged to push financial reforms and innovations.

China must defuse "major risks" in the economy, and fight poverty and pollution, President Xi Jinping said at the October meeting.

Authorities have moved to rein in financial risk and prevent a destabilising build-up of debt in the world's second-largest economy.

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(Reporting by Beijing monitoring desk and Kevin Yao; Editing by Kim Coghill and Clarence Fernandez)

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Dec 11 2017 | 4:46 PM IST

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