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PBOC Governor Pan Gongsheng: Continue Rectifying "Involution-Style" Competition Among Financial Institutions
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According to mainland media reports, Pan Gongsheng, Governor of the Peoples Bank of China (PBOC), stated at a system-wide warning and education conference as well as a meeting to promote the establishment and practice of a correct performance evaluation outlook that the PBOC will deepen its analysis of economic and financial issues from the perspective of performance evaluation principles. The central bank will strictly and earnestly implement rectifications related to central inspections and audits, and continue to address "involution-style" competition among financial institutions. It will coordinate high-quality efforts in advancing the "Five Major Financial Initiatives", actively and prudently promote the resolution of debt risks of local government financing vehicles and small and medium-sized financial institutions, maintain a high-pressure crackdown on illegal financial activities in relevant sectors, and continuously optimize the central banks financial management and services at the county level. (ta/w) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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