China Banking Regulatory Commission (CBRC) chairman Liu Mingkang has urged
the banking sector to closely watch the impact of the turbulent international
financial environment against the domestic financial market and improve
capabilities of risk management.
Speaking at a recent CBRC meeting focusing on the economic and financial
situation in the third quarter, he demanded the country's banking sector learn
lessons from the U.S. financial crisis and take measures to raise
competitiveness.
He outlined several major missions for the country's banking sector:
-- implementing macro-economic control policies and making all-out efforts in
pushing reform and renovation of the financial system in rural areas.
-- continuing to focus on credit risk control and precautions.
-- strengthening risk control on overseas investment and actively facing the
challenges of turbulence in the international market.
-- improving internal management.
-- summing up lessons and experience from the global financial crisis and
adjusting operating concepts and methods.
Liu added the CBRC would enhance its supervision and management on risk and
safeguard a stable and healthy development of the country's banking sector.
