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China to steadily resolve shadow banking risks: central bank

China to steadily resolve shadow banking risks: central bank© Reuters. FILE PHOTO: Woman walks past the headquarters of the PBOC in Beijing

BEIJING (Reuters) – China will steadily resolve risks in the shadow banking sector and push for a stable transformation of financial institutions’ asset-management businesses, the central bank said on Wednesday.

The central bank will conduct stress tests and evaluations on financial institutions, as part of steps to prevent systemic financial risks, it said in a statement.

China will deal with risks posed by high-risk financial institutions in an orderly manner, the central bank said.

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Source: Investing.com

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