China will aim to remove 'gray rhino' risks in key areas: central bank

BEIJING (Reuters) - China’s central bank said on Thursday it will strengthen efforts to prevent ‘gray rhino’ events and fend off risks of abnormal fluctuations in the financial markets.

The People’s Bank of China (PBOC) also reiterated it will strike a balance between stabilizing growth and preventing risks, and step up counter-cyclical adjustment of monetary policy, according to a statement released on its website after an internal Communist party meeting.

Policymakers last year warned of potential “gray rhino” events - highly obvious yet ignored threats - surfacing in 2019 as the nation faces increasing uncertainties in the global economy and financial markets.

Reporting by Beijing Monitoring Desk; Editing by Shri Navaratnam