Xinhua 2023:02:13.08:44
BEIJING, Feb. 11 (Xinhua) — Chinese financial authorities on Saturday unveiled new measures to strengthen risk management of financial assets at commercial banks.
The document, jointly published by the China Banking and Insurance Regulatory Commission (CBIRC) and the People’s Bank of China, specifies the definition of five levels of risk and requires commercial banks to classify the risks of all financial assets that carry credit risk rather than just loans.
It also clarifies the rules regarding the number of days late and risk classification and asks commercial banks to improve their risk classification management structure.
The measures, which will take effect on July 1, will help the banking sector prevent credit risks and strengthen its capacities to serve the real economy, according to CBIRC.
(Web editor: Zhou Yu, Zhao Jian)
