April 24, 2016 / 4:53 AM / 4 years ago

Financial institutions face increasing credit risks - China central bank vice governor

Chen Yulu gives a speech in Beijing, China, October 3, 2015. REUTERS/Stringer

BEIJING (Reuters) - Financial institutions are facing increasing credit risks, China central bank vice governor Chen Yulu said on Sunday, according to a report published by the official Shanghai Securities News.

Factors that influence financial market stability also are on the rise, especially as China experiences continued economic downward pressure, the newspaper cited Chen as saying.

Chen made the comments at a financial forum in Hangzhou, the newspaper reported.

He also said the People’s Bank of China is seeking to improve monetary policy framework and close regulatory loopholes, according to the report.

Reporting by Beijing Monitoring Desk; Editing by Christopher Cushing

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