People's Bank of China Governor Pan Gongsheng: Focus on converging major financial risks, maintain high-pressure efforts to crack down on illegal financial activities such as virtual currency speculation

ChainCatcher News, During the press conference on the fourth session of the 14th National People’s Congress, People’s Bank of China Governor Pan Gongsheng stated that over the past year, overall, China’s key financial risks have been orderly resolved, the financial system and markets have operated smoothly, and risks in key areas have continued to converge. The People’s Bank of China, together with relevant departments, maintains a high-pressure crackdown on illegal financial activities such as illegal fundraising, virtual currency trading and speculation, and underground banks.

Next, the People’s Bank of China will orderly resolve risks in key areas to prevent financial risks and maintain financial stability. It will work with industry regulators and law enforcement agencies such as public security to continue high-pressure crackdowns on illegal financial activities, closely monitor and assess the impact of external shocks, and use macroprudential and financial stability policy tools to timely weaken or block risk contagion.