October 19, 2018 / 1:06 AM / a year ago

China banking and insurance regulator chief: systemic risks are under control

Guo Shuqing, China's banking regulator, attends a news conference ahead of China's parliament in Beijing, March 2, 2017. REUTERS/Shu Zhang

BEIJING (Reuters) - The head of China’s banking and insurance regulator said the authority has asked financial institutions to properly manage risks related to listed firms’ financing activities via stock pledging.

China Banking and Insurance Regulatory Commission, in a statement accompanied by comments from Chairman Guo Shuqing made in an interview with Chinese state media published on Friday, also quoted Guo as saying that insurers will be encouraged to invest in listed firms and allowed to set up products to address liquidity issues related to listed firms’ stock pledging.

Reporting by Beijing Monitoring Desk; Editing by Shri Navaratnam

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