China can control systemic risks and grow steadily

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CHINA has capacity and confidence to control systemic risks while maintaining steady growth, said Zhou Xiaochuan, governor of the People’s Bank of China on Saturday.

“The Chinese government has the capacity and confidence to prevent systemic risks and maintain healthy and stable economic operations,” said Zhou in a statement sent to the International Monetary and Financial Committee meeting.

According to Zhou, China has set financial risks control as a top priority, and has taken measures to control risks in shadow banking, reduce corporate leverage, and prevent property market overheating in some areas.

“In recent years, due to factors such as the economic slowdown, structural adjustment, and high volatility in the international financial markets, the potential risks in China’s financial industry have increased, but in general, the risks are manageable,” said Zhou.

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