China's banking¹ regulator said it will toughen regulation on the banking sector² this year in a move to defuse financial risks.

 

中国银行监管机构今年将加强对银行业的监管以化解金融风险。

 

Priorities of the work were listed in a statement of the China Banking Regulatory Commission (CBRC) Saturday, including shadow banking supervision³ and consumer protection.

 

Risk control will be strengthened in interbank activities, financial products and off-balance sheet business, according to the statement. Violations⁴ in corporate⁵ governance, property loans, disposal of non-performing assets and other key areas will also face stricter punishment.

 

The CBRC expects to rein⁶ in increasing violations, redirect capital to the real economy, and prompt banks to focus on their main business.

 

The move signaled continued hard stance from the government following a tough financial clean-up in 2017.

点击收听单词发音