Financial regulators formulate plans for high-risk regions

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. (Photo/China News Service)

China's financial regulators have formulated tailored resolution plans for regions with high-risk financial institutions, and are implementing these measures in a prudent manner, said Li Yunze, head of the National Financial Regulatory Administration, on Tuesday.

At the same time, regulators are guiding banks and insurers to actively participate in mitigating risks related to the real estate sector and local government debt, Li said at a news conference.

The country's financial sector, especially large financial institutions, currently maintain stable operations and controllable risks, Li added.

"As the risks from real estate, local government debt, and small and medium-sized financial institutions are gradually resolved and contained, financial risks are steadily receding," Li said, vowing to resolutely defend against the occurrence of systemic financial risks.