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12:27, 20-Mar-2018
Li Keqiang: China able to forestall systemic financial risks
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China has the ability to forestall systemic financial risks, with enough tools put aside to deal with uncertainties in the global environment or new risks at home, Chinese Premier Li Keqiang said on Tuesday.
Li made the remarks at a press conference after the conclusion of China's annual legislative session.
The Chinese premier said that the country’s economic fundamentals were still in sound shape, while the financial system was in good shape too.
Li warned that authorities would continue to deal with irregular practices or violations of law in the financial sector, and warned investors in the country to ignore illegal fundraising activities.
Li pointed to the latest round of institutional reform that included a merger of the country’s insurance and banking regulatory bodies, saying it was a way of ensuring unified regulation and supervision over the financial sector.