We value your privacy

We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. By clicking "Accept All", you consent to our use of cookies. Cookie Policy

Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

ADVERTISEMENT
Africanian
  • News
  • News 24/7
  • Politics
  • Business
  • Health
  • Sports
  • Travel
  • World
    • US
    • Russia
    • Europe
    • Asia
    • America
  • Events
No Result
View All Result
Africanian
No Result
View All Result
Home Business

China: Uniform financial standards to cut risks

According to Apostolik, nonperforming loans, rising leverage levels, and the efficiency of financing to small and medium-sized enterprises are the other concerns for financial regulators.

in Business
Reading Time: 2 mins read
0 0
0
China: Uniform financial standards to cut risks
0
SHARES
Share on FacebookShare on TwitterShare via Whatsapp

Globally standardized financial risk management has become more important for financial services firms as China accelerates its opening-up efforts, and the country’s banking and financial systems look to remain resilient from the COVID-19 pandemic, said the chief executive of a leading global association of risk managers.

“I don’t believe that there is as much risk of a financial meltdown in the Chinese marketplace as there might be in different parts of the globe,” Richard Apostolik, president and chief executive officer of the Global Association of Risk Professionals, told China Daily in an exclusive interview.

It will be important for Chinese banking institutions, however, to address credit and liquidity risk issues in the coming months, as their lending has increased quickly to support enterprises, especially smaller businesses, to tackle shocks related to the novel coronavirus pandemic, he said.

A senior Chinese central bank official recently warned that one of the potential risks in the financial system may be the deterioration of banks’ asset quality, and measures may be needed to prevent systemic risks and improve the efficiency of financial resource allocation to small and medium-sized enterprises.

As global financial markets become more interconnected, there is no singular banking institution that can deal with all of the issues within the local financial sector. Meanwhile, China’s financial markets have become more open to international standards. This requires local financial institutions to understand how the rest of the world manages financial risks, said Apostolik.

More

Nigeria accelerates economic transformation with key reforms and signs of recovery

Rwanda combines youth innovation and circular economy to build a resilient nation

7 Tracks, 1 Future: AfriLabs Annual Gathering 2025 Sets the Stage for Africa’s Innovation Renaissance

“As China continues to open its economy and its financial services sector, foreign institutions will be excited about the possibility of being able to conduct business in the Chinese marketplace,” he said.

To attract more foreign companies to operate in the domestic market, the country may need to help institutions better understand how the economic system works, such as its fiscal and monetary policies, as well as the regulatory environment. “A better understanding of this environment will help risk managers to prepare for the challenges,” he said, adding there has been growing need from Asia, particularly China, for learning financial risk management that is being used around the world.

The Chinese government has been supportive by ensuring people who work in financial services can learn about global standards through education. It is important for people to have skills and knowledge about financial risk sets to compete on a global basis as the market opens, Apostolik said.

Beside banking institutions, fintech companies have emerged in China during the past few years, and a number of them are now getting involved in making loans using their own balance sheets. “But it’s important that financial regulators understand the effect of their activities on the economy as a whole,” the CEO said.

Source: chinadaily.com.cn
africanian

africanian

  • Trending
  • Comments
  • Latest
Rwanda combines youth innovation and circular economy to build a resilient nation

Rwanda combines youth innovation and circular economy to build a resilient nation

July 3, 2025
Weather in South Africa: Climate and Seasons

Weather in South Africa: Climate and Seasons

August 25, 2020
Weather in Kenya: Climate, Seasons, and Average Temperature

Weather in Kenya: Climate, Seasons and Average Temperature

August 26, 2020
In Tanzania, the Kibuka community has improved their household economy by more than 50%.

In Tanzania, the Kibuka community has improved their household economy by more than 50%.

July 11, 2025
Lesotho increases blood collection by 70% between 2017 and 2024

Lesotho increases blood collection by 70% between 2017 and 2024

July 8, 2025
Nigeria accelerates economic transformation with key reforms and signs of recovery

Nigeria accelerates economic transformation with key reforms and signs of recovery

July 7, 2025
Twitter Instagram Youtube Facebook
No Result
View All Result

Africanian News

Is a dedicated project aimed at amplifying the voices of the African Ecosystem and Diaspora. We actively collaborate with initiatives to improve access to education and digital inclusion, both in traditional schools and through digital platforms, for African children.

It’s crucial to emphasize that none of the articles or images featured on our platform are intended for copyright infringement, neither now nor in the future. If you believe that any information, text, image, etc., may be subject to copyright and should be removed, please notify us by sending an email to info@africanian.com

Your dreams matter; your stories matter.

Feel free to explore collaboration opportunities with us. Share your articles, thoughts, interviews, experiments, or no-comment videos by reaching out to info@africanian.com. You can also subscribe to our mailing list to receive the latest updates from Africanian News.

© 2024 Africanian News: From Africa, by Africans, for Africa, and friends of Africa.

No Result
View All Result
  • News
  • Politics
  • Business
  • Health
  • Sports
  • Entertainment
  • Tech
  • Travel
  • World

© 2024 Africanian News: From Africa, by Africans, for Africa, and friends of Africa.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Log In

Sign In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Back to Login

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Accept

Add to Collection

  • Public collection title

  • Private collection title

No Collections

Here you'll find all collections you've created before.