Premier Li Highlights Financial, Real Estate Risks in Final Report to China’s Top Legislature

Premier Li Keqiang called for “effectively preventing and defusing major economic and financial risks” amid concerns among China’s top policymakers about dangers lurking in the property sector, in smaller financial institutions and in local government debt.

In his final government work report to the National People’s Congress (NPC), the country’s top legislature, on Sunday, the outgoing premier highlighted the need to deepen reforms in the financial system, improve financial regulation, and prevent regional and systemic financial risks.