China strives to reduce financial risk

BEIJING - Risk control and serving the real economy will be the major tasks of China's financial sector in the second half of the year.

Guarding against systemic financial risk is vital to the health of the economy and so the government will do more to monitor, predict and deal with risk in a more timely manner. Serving the real economy is the sole purpose of the financial sector and the most basic protection against financial risk.

While the central bank and financial regulators have identified major problems, including pseudo-banking and illegal fund-raising, China's financial risk is seen as generally under control.