In a speech to the forum this afternoon, the new governor of the People's Bank of China said his job mainly focuses on three aspects. Yi Gang explained the first is to carry out stable monetary policy, second is pushing the reform and opening up of the financial sector and third, preventing major risks to keep the sector stable.

YI GANG, GOVERNOR PEOPLE'S BANK OF CHINA "Currently, China still faces some potential financial risks. The first is that, macroscopically speaking, China still has the risk of high leverage, especially in terms of the leverage of enterprises. Second, there is still a big amount of shadow banking. Some organizations have illegally launched financial businesses without licenses. Third, risks exist in some wildly growing financial holding companies. They have problems such as conveying benefits via illegitimate affiliate transactions. That will bring risks of infection to other organizations, the market and other formats."