China Regulator Vows to Prevent Financial ‘Blow-Ups’
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China’s financial watchdog said it will work to prevent sudden failures of small and midsize financial institutions this year, highlighting Beijing’s heightened sensitivity to financial risks as the economy remains under strain.
At its annual work conference on Thursday, the National Financial Regulatory Administration (NFRA) said it would push ahead with the orderly resolution of risks at these institutions, focusing on disposing of existing risks, curbing new ones and preventing financial “blow-ups,” a term widely used in China to describe abrupt institutional failures.
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