BEIJING - China's banking regulator said it will toughen regulation on the banking sector this year in a move to defuse financial risks.
Priorities of the work were listed in a statement of the China Banking Regulatory Commission (CBRC) Saturday, including shadow banking supervision and consumer protection.
Risk control will be strengthened in interbank activities, financial products and off-balance sheet business, according to the statement. Violations in corporate governance, property loans, disposal of non-performing assets and other key areas will also face stricter punishment.