The International Monetary Fund (IMF) has unveiled risks faced by China’s financial system, after its huge growth, increased globalisation and activities in shadow banking.
The IMF’s latest report People’s Republic of China: Financial System Stability Assessment states that the main near-term domestic risks to the financial system are four-fold, despite the “remarkable progress” the country has made in terms of its transition towards greater transparency, structure, performance and oversight of financial institutions.
“Despite reform and financial strength, China confronts a steady build-up of financial sector vulnerabilities,” says the IMF report.
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