China's banking institution risks generally under control: central bank

BEIJING, Dec. 22 (Xinhua) -- Banking institutions in China have maintained sound operations with risks generally under control in the second quarter of this year, according to a central bank report released Friday.

The China Financial Stability Report 2023, compiled by the People's Bank of China, cited results from a quarterly rating of 4,364 banking financial institutions in the country that assessed their stability and risks.

The rating found that 3,655 banks, whose assets accounted for 98.28 percent of the total assets of all the participating banks, were operating safely, said the report.

While risks did exist in some small and medium-sized financial institutions in rural areas, large banks earned good ratings, which helps ensure stability for the financial system, it said.

The central bank will continue to push forward the reform of small and medium-sized banks and resolve their risks, defuse risks for city commercial banks and rural credit cooperatives, and step up the reform and restructuring of rural banks, said the report.