Chinese President Xi Jinping has called for increased efforts to ward off systemic risks to maintain financial security during a group study session of the Political Bureau of the CPC Central Committee, China's top decision making body on Tuesday.
President Xi stressed financial security is a crucial part of national security, and a critical basis for the steady and healthy development of the economy.
Xi said China's financial development is facing many risks because of the influence of international and domestic economic factors, but the country's financial risks are still under control.
Xi outlined several major tasks to maintain financial security, including pushing financial organizations to shoulder the responsibility of risk management, strengthening supervision in the financial sector, creating a better financial environment for the real economy, and controlling leverage in the sector.
Leaders from China’s financial regulatory watchdogs also attended the meeting.
