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China's National Financial Regulatory Administration

China’s National Financial Regulatory Administration Assures Confidence in Financial Security

Beijing, March 12, 2024, The Europe Today: Li Yunze, the head of China’s National Financial Regulatory Administration, declared on Monday that China possesses the confidence, conditions, and capabilities necessary to uphold financial security. Speaking after the conclusion of the annual national legislative session, Li emphasized that financial risks are currently well-managed, and the nation has substantial conditions and resources at its disposal to address any potential challenges.

Highlighting the paramount importance of development, particularly in the realm of high-quality development, Li stressed that such progress is fundamental for preventing and mitigating risks. He affirmed the administration’s unwavering commitment to pursuing the path of financial development with Chinese characteristics.

In the pursuit of forestalling and defusing financial risks, Li outlined the administration’s proactive approach, stating that regulators will adopt a more forward-looking strategy in overseeing and regulating financial activities. This approach aims to be more targeted, effective, and coordinated to ensure the prevention of systemic risks. Li concluded by reiterating the administration’s dedication to maintaining financial stability and security, reinforcing confidence in China’s robust financial system.