If the large amount of money pumped by the most developed countries is a driving force of global inflation, products manufactured in China serve as an "anchor" to stabilize the price rises, a senior banking official said Thursday.

Despite the COVID-19 pandemic, China managed to provide roughly half of the world's final products for a considerable period with generally no increases in free onboard prices of exports. It laid a solid foundation for global virus prevention and economic recovery, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, via a video link at a financial forum in Shanghai.

Unlike some developed countries, China avoided using a "deluge" of stimulus policies when strengthening macroeconomic policy adjustment, Guo noted at the Lujiazui Forum.

The country unveiled a slew of targeted monetary and fiscal policies to resolve the pandemic-induced economic fallout, including reducing taxes and fees, lowering lending rates and issuing special treasury bonds.

Last year, China's financial institutions saved the real economy 1.5 trillion yuan (about $234.48 billion), while tax and fee reduction for enterprises and residents surpassed 2.5 trillion yuan.

During the speech, Guo also called for continuous efforts in forestalling China's financial risks, focusing on addressing non-performing assets, regulating shadow banking and fending off investment risks of financial derivatives.

"The default rate for some large and medium-sized enterprises has risen, and the credit risks at banking institutions has intensified," Guo said. 

He said a growing trend of local real estate bubbles remained "serious."

Investors should also be aware of potential investment losses on financial derivative products, commodity-linked futures, and rising Ponzi schemes, Guo said.

"Those who speculate on foreign exchange, gold and other commodity futures will hardly have the opportunity to make a fortune, just as those who bet that house prices would never fall will eventually pay a heavy price," said Guo.

(With input from Xinhua, Reuters)