Li Yunze, head of the National Financial Regulatory Administration of China, said that China has everything to withstand various financial risks and challenges. This was reported by
Xinhua News Agency, a partner of TV BRICS.

He said that China’s economy has strong fundamentals that ensure stability and reliability.

Li also emphasised that China’s financial sector is running smoothly and resilient to risks.

According to official data, the non-performing loan ratio of commercial banks stood at 1.61 per cent by the end of the third quarter, while their coverage ratio, a measure to hedge against financial risks, stood at 207.89 per cent.

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