March 24, 2019 / 7:15 AM / 3 months ago

China central bank head says country to step up oversight of systemically important financial firms

FILE PHOTO: A man walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee

BEIJING (Reuters) - China will increase oversight of systemically important financial institutions and holding companies as the country opens up its financial sector, Central Bank Governor Yi Gang said on Sunday.

Speaking at the China Development Forum, Yi reiterated that China had effectively curbed shadow-banking risks and that Beijing aimed to keep the country’s economic operations within a reasonable range.

Reporting by Kevin Yao and Shu Zhang; writing by Beijing Monitoring Desk; editing by Neil Fullick

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